Our country goes on the market the cabinet company to announce reduces the capital to research the shareholder wealth influence

• Main Authors: Chih-Wen Huang, 黃志文
• Other Authors: Li-Chiao Lin
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/28006037004612659144

碩士 === 國立勤益科技大學 === 企業管理系 === 95 === Enterprise when booming prosperity, transport business achievements, profit ability and the future prospect will obtain the investor to affirm that, for the pursue enterprise value maximization, will be able to invest the massive capitals to purchase the workshop equipment to expand produces energy. Has been through repeatedly the newly established time, the growth period, the mature period along with the enterprise, is in labor in front of industry when the bleak economic recession, the enterprise management condition was often inferior anticipated even loses money, the over expansion capital instead becomes the enterprise the burden. All because in former days handled reduces the capital the company to accumulate the large amount loss, had to penetrate the legal procedure to cancel the accumulation loss. However, has handled the cash since the profit stable crystal China hotel to reduce the capital, reduces the capital to reverse investor's negative impression gradually, becomes the enterprise thin body, conforms to the most suitable capital way. This research uses the event methodology and the market pattern, legal reduces the capital and the negotiable securities exchange law storehouse of stock in view of the law of corporation cancels, the discussion enterprise announced reduces the capital whether has the information connotation, causes investor short period the unusual reward assumes the significance. The real diagnosis result discovered that, announced the law of corporation reduces the capital transmission negative signal, the shareholder wealth has the remarkable negative unusual reward, in which finance industry negative unusual reward is biggest; The cash reduces the capital the company to be able to increase the shareholder wealth. Announced the storehouse stock cancels the aspect, the shareholder wealth has to the unusual reward, in which finance industry is being obviously biggest to the unusual reward; First time will buy back cancels the storehouse stock to have high to the unusual reward; The announcement buys back cancels the proportion size then not obvious difference.