台灣市場借殼上市對於殼公司之影響;the effect of reverse takeover on sell company in Taiwan

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Title:	台灣市場借殼上市對於殼公司之影響;the effect of reverse takeover on sell company in Taiwan
Authors:	陳姵汝;Chen,Pei-ju
Contributors:	財務金融學系
Keywords:	台灣市場;借殼上市;營運績效;反向購併;reverse takeover;operation performance;Taiwan market
Date:	2014-07-14
Issue Date:	2014-10-15 15:29:36 (UTC+8)
Publisher:	國立中央大學
Abstract:	無論是美國市場亦或台灣市場，已有許多文獻探討借殼後對於殼公司股價之影響，美國市場與台灣市場的殼公司也存在些許差異，因此本文研究台灣市場之借殼上市，本文補足台灣市場1990至2012年間，歷年來進行借殼上市公司之樣本，整理出79間借殼公司，且分成五個構面探討殼公司於借殼前後三年間的變化，分別為公司規模、資產管理能力、獲利能力、財務槓桿程度，以及未來成長機會。本文發現借殼前殼公司存在許多經營不善的現象，對於殼公司而言，被借殼上市為一個轉變的契機，藉由借殼公司的資源，確實能夠改善殼公司本身的狀況，因此借殼完成後，殼公司之公司規模、資產管理能力、獲利能力與成長性皆較相對產業佳。;There are a few studies examining the market reactions to the reverse takeovers in U.S and Taiwan. Because the shell company in Taiwan is a little different from in U.S. This paper examines the reverse takeover in Taiwan. In this paper, I find a sample of 79 shell companies in the period from 1990 to 2012. This paper discusses five dimensions about the shell companies 3 years before and after reverse takeover. Dimensions are company scale, the ability of asset management, profitability, financial leverage, and opportunities of growth respectively.
Appears in Collections:	[Graduate Institute of Finance] Electronic Thesis & Dissertation

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