The Impacts of Capital Reduction on Company Operation Performance

• Main Author: 詹信元
• Other Authors: 沈華榮
• Format: Others
• Language: zh-TW
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/58528740791933404523

碩士 === 國立交通大學 === 管理學院碩士在職專班管理科學組 === 96 === The purpose of this study is to find the impacts of capital reduction on company operation performance. Samples are selected from listed companies on Taiwan Stock Exchange from 2001 to 2005 that had reduced capital. The financial data are derived from each company’s financial report. We find that: (1) In general, the companies have better performance after capital reduction. (2) The relationship between industry differences and performance indicators only appeared in long-term capital to fix asset ratio, current ratio, quick ratio, time interest earned, account receivable turnover rate and fix asset turnover rate. (3) After capital reduction, electric machinery industry has the best performance improvement. Construction industry has the worst performance. (4) The five indicating dimensions, financial structure, payback ability, management ability, profitability and operation ability, are correlated with others. (5) Only profitability is correlated with industry type.