The Relationship Among Discounted or Premium Convertible Bonds, Stock Cumulative Abnormal Returns ,and Corporate Governance
碩士 === 國立臺灣大學 === 財務金融學研究所 === 98 === Recently, the issues related to corporate governance have been taken seriously by investors. Whether buying corporate bonds or stocks, it is important to examine the quality of corporate governance carefully. Especially, many companies listed on the Taiwan Stock...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2010
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| Online Access: | http://ndltd.ncl.edu.tw/handle/61572655544901586632 |
| Summary: | 碩士 === 國立臺灣大學 === 財務金融學研究所 === 98 === Recently, the issues related to corporate governance have been taken seriously by investors. Whether buying corporate bonds or stocks, it is important to examine the quality of corporate governance carefully. Especially, many companies listed on the Taiwan Stock Exchange are formed by families. This will enhance the importance of the issue. The quality of corporate governance will influence the issuing price of convertible bond and the stock cumulated abnormal return on the few days between pricing day. The issuing margins of convertible bonds are taken as subjects ,and then the effects of corporate governance variables to the discount rate of convertible bond and the cumulated abnormal return have been discussed. The outcome implies that which with the higher quality of corporate governance will make the discount rate of convertible bond lower and stock abnormal return higher.
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