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姓名	游存甫(CUN-FU Yu)  查詢紙本館藏	畢業系所	企業管理學系
論文名稱	在新冠肺炎期間伊斯蘭律法、現金持有與債務持有對股票報酬率影響之研究-以印尼上市公司為例
檔案	[Endnote RIS 格式]    [Bibtex 格式]    [相關文章]   [文章引用]   [完整記錄]   [館藏目錄]   至系統瀏覽論文 (2027-6-9以後開放)
摘要(中)	本文主要探討伊斯蘭律法、新型冠狀病毒(Covid-19)、公司現金持有與債務持有對股票報酬率之影響，並以2018年Q3至2020年Q4印尼非金融上市公司為樣本，進行實證分析。實證研究結果發現Covid-19使印尼非金融上市公司的股票報酬率有顯著負相關。本文進一步分析現金持有與債務持有在疫情下對於股票報酬率之影響，發現現金持有與股票報酬率呈現顯著正相關，負債持有與股票報酬率呈現顯著負相關。最後分析遵循伊斯蘭律法的企業與非遵循伊斯蘭律法的企業在疫情下現金持有與債務持有對於股票報酬率之影響程度，發現遵循伊斯蘭律法的企業在現金持有與債務持有對股票報酬率影響分別為正不顯著與負不顯著，但是非遵循伊斯蘭律法的企業在現金持有與債務持有對股票報酬率分別為正顯著影響與負顯著影響。本文在管理實務上有貢獻，亦即內隱的宗教信仰與外顯的公司資本結構與疫情是影響公司股票報酬率的重要因素，投資人在制定投資決策時須加以權衡考量。
摘要(英)	This paper mainly discuss the impact of Shariah law,Covid-19, corporate cash and debt holdings affect the level of corporate stock return, and conducts empirical analysis based on the sample of Indonesian companies from 2018Q3 to 2020Q4.The empirical result show that Covid-19 has a significant negative correlation with stock returns of Indonesian companies.This paper further analyzes the impact of cash holdings and debt holdings on stock returns under the epidemic, and finds that cash holdings are significantly positively correlated with stock returns, while debt holdings are significantly negatively correlated with stock returns. Finally, we analyze the impact of cash holdings and debt holdings on stock returns for companies that follow Shariah law and companies that do not follow Shariah law. It is found that the impact of cash holdings and debt holdings on stock returns is not significant for companies that follow Shariah law, but the companies that do not follow Shariah law is significant impact on stock returns. This paper contributes to management practice, that is, implicit religious beliefs and explicit corporate capital structure and the epidemic are important factors affecting the company′s stock return, which investors must consider when making investment decisions.
關鍵字(中)	★ 新型冠狀肺炎 ★ 伊斯蘭律法 ★ 現金持有 ★ 債務持有 ★ 股票報酬率	關鍵字(英)	★ Covid-19 ★ Shariah law ★ Cash holdings ★ Debt holdings ★ Stock return
論文目次	目錄 目錄 i 摘要 iii Abstract iv 致謝詞 v 第一章 緒論 1 1.1研究動機與目的 1 1.2研究架構 4 第二章 文獻探討與假說建立 5 2-1 伊斯蘭律法和公司股價報酬率與疫情間的關係 5 2-2 伊斯蘭律法和公司負債比率與疫情間的關係 6 2-3 伊斯蘭律法和公司現金持有量與疫情間的關係 8 第三章 研究方法 10 3.1 資料來源與樣本篩選 10 3-2 模型建立 10 3-3 變數定義 11 第四章 實證結果與分析 14 4-1 基本敘述性統計分析 14 4-2 迴歸分析 19 4-2-1 疫情對印尼股市影響 20 4-2-2 疫情下現金持有與債務持有對股票報酬率影響 22 4-2-3 疫情下債務持有與對是否遵循伊斯蘭律法股票報酬率影響 25 4-2-4 疫情下現金持有與對是否遵循伊斯蘭律法股票報酬率影響 27 4-3 穩健性分析 29 第五章 結論與建議 39 5-1 研究結論 39 5-2 管理意涵與研究限制 40 參考文獻 42
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指導教授	洪榮華 蔡函芳(Jung-Hung Hung Han-Fang Tsai)	審核日期	2022-7-5
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