Do private placements turn around firms? Evidence from Taiwan

NCUIR > School of Management at National Central University > Department of Finance > journal & Dissertation > Item 987654321/104819

Please use this identifier to cite or link to this item: https://ir.lib.ncu.edu.tw/handle/987654321/104819

Title:	Do private placements turn around firms? Evidence from Taiwan
Authors:	徐政義;Shiu, Cheng-Yi;Wei, Hui-Shan
Contributors:	管理學院財務金融學系
Keywords:	Alliances;Analysis;Board of directors;Business partners;Business structures;B�rsengang;B�rsenkurs;Companies;Descriptive statistics;Discounts;Earnings announcements;Economic performance;Financial incentives;Financial management;Forecasts and trends;Industry forecasts;Insider dealing;Investments;Investors;Management;Nonexecutive directors;Organizational effectiveness;Portfolio performance;Private Equity;Private placement;Private placements (Securities);Publicly held corporations;Rates of return;Securities offerings;Shareholders;Statistical median;Stock markets;Stock prices;Stocks;Studies;Taiwan;Turnaround management;Vergleich
Date:	2013-12-01
Issue Date:	2026-04-23 11:58:53 (UTC+8)
Publisher:	Wiley-Blackwell;Tampa: Blackwell Publishing Ltd
Abstract:	摘要： We analyze the stock and operating performance of firms issuing private placements in Taiwan. Issuing firms have poor pre-issue performance and earn significantly positive returns at announcement. Placements with an owner-manager or with nonexecutive directors are associated with better post-issue stock and operating performance, suggesting that an increase in insiders' stakes leads to better alignment of managerial incentives and an increase in monitoring by insiders. In contrast, placements made to outside investors are unlikely to turn around the issuing firms. 其他題名： Financial Management 出版者： Tampa: Blackwell Publishing Ltd 出版日期： 2013-12-01 出處： Financial management, 2013-12, Vol.42 (4), p.875-899 資源來源： EBSCOhost Business Source Premier 版權： 2013 Financial Management Association International 版權： COPYRIGHT 2013 Financial Management Association 版權： Copyright Blackwell Publishing Ltd. Winter 2013 識別號： ISSN: 0046-3892 識別號： EISSN: 1755-053X 識別號： DOI: 10.1111/fima.12027
Appears in Collections:	[Department of Finance] journal & Dissertation

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