Title page for 944304011


[Back to Results | New Search]

Student Number 944304011
Author Tsan-Lung Su(蘇燦隆)
Author's Email Address stevensu007@yahoo.com.tw
Statistics This thesis had been viewed 1611 times. Download 948 times.
Department Executive Master of Industrial Economics
Year 2007
Semester 1
Degree Master
Type of Document Master's Thesis
Language zh-TW.Big5 Chinese
Title The influence of listed behavior on the firm growth
Date of Defense 2007-12-20
Page Count 54
Keyword
  • firm growth
  • fixed effect
  • Gibrat’s Law
  • random effect
  • Abstract Research on firm growth is not only concerned by industry, but also cared by firm itself, which has attracted investors in stock market. The purpose of this paper is to discuss the relationship of the firm growth before and after listed at TSEC (Taiwan Stock Exchange Corporation).
    This paper selects the firms listed initially at TSEC in 2000, and uses the balanced panel data of gross sales, general assets, and firm age during 1995~2006. Our model is based on the firm growth framework developed by Evans (1987a, b). To obtain the empirical results, our estimation uses the OLS method as well as the fixed and random effect models to account for the characteristics of panel data.
    Our findings show that there is an inverse relationship between the growth rate and firm size that is inconsistent with the Gibrat’s Law. However, our results indicated that the listed behavior for firms have positive impacts on the growth rate. This shows that firms are benefit from the initial public offering.
    Table of Content 摘要……………………………I
    ABSTRACT………………………II
    誌謝……………………………III
    目錄……………………………IV
    圖目錄…………………………VI
    表目錄…………………………VII
    第一章前言…………………… 1
    1-1研究動機與目的……………1
    1-2研究方法……………………2
    第二章文獻探討與回顧……… 4
    2-1理論文獻……………………4
    2-1-1廠商理論文獻概述………4
    2-1-2廠商成長理論文獻概述…6
    2-2實證文獻……………………9
    2-2-1前言………………………9
    2-2-2廠商成長實證文獻………9
    2-2-3公開發行實證文獻………20
    第三章實證模型與資料……… 22
    3-1實證模型與估計方法………22
    3-1-1前言………………………22
    3-1-2實證模型…………………23
    3-1-3估計方法…………………26
    3-2資料來源與基本分析………28
    3-2-1台灣證券市場發展概述…28
    3-2-2樣本資料來源與變數結構29
    3-2-3樣本資料基本分析………30
    第四章實證結果………………35
    4-1整體廠商實證結果…………35
    4-1-1前言………………………35
    4-1-2實證結果…………………35
    4-1-3小結………………………38
    4-2電子業與非電子業實證結果41
    4-2-1前言………………………41
    4-2-2電子業廠商實證結果……41
    4-2-3非電子業廠商實證結果…43
    4-2-4小結………………………44
    第五章結論……………………50
    5-1研究結果……………………50
    5-2研究限制與建議……………51
    參考文獻………………………52
    Reference [1]沈裕鈜,「台灣地區電子業廠商成長之分析」,國立中央大學,碩士論文,民國91年6月。
    [2]陳正倉等編著,產業經濟學,雙葉書廊有限公司,台北,民國93年9月。
    [3]陳建男、朱文儀,「規模、年齡、廠商成長與績效之關係研究」,管理評論,25(4),1-25頁,民國95年10月。
    [4]楊亦農,時間序列分析-經濟與財務上之應用,雙葉書廊有限公司,台北,民國94年4月。
    [5]Audretsch,D. B. et al. (2004), “Gibrat’s Law: Are the Services Different?”, Review of Industrial Organization , 24 , 301–324.
    [6]Baumol, W.J. (1962),“On the Theory of Expansion of the Firm ” The American Economic Review, 52, 5, 1078-1087.
    [7]Cabral, L. (1995), “Sunk Cost, Firm Size and Firm Growth”, Journal of Industrial Economics ,43,2, 161–172.
    [8]Chesher, A. (1979), “Testing the law of proportionate effect”, Journal of Industrial Economics ,27,4, 403–411.
    [9]Chi, J., and C. Padgett. (2006),“Operating performance and its relationship to market performance of Chinese initial public offering”,The Chinese Economy ,39,5, 28–50.
    [10]Dunne, P. and A. Hughes. (1994),“Age, Size, Growth and Survival: UK Companies in the 1980s”, The Journal of Industrial Economics, 42,2, 115–140.
    [11]Evans, D.S.(1987a), “The Relationship between Firm Growth, Size, and Age: Estimates for 100 Manufacturing Industries”, The Journal of Industrial Economics, 35, 4 , 567–581.
    [12]Evans, D.S.(1987b), “Tests of Alternative Theories of Firm Growth”, Journal of Political Economy, 95, 657–674.
    [13]Hall, B.H.(1987), “The Relationship between Firm Size and Firm Growth in the US Manufacturing Sector”, The Journal of Industrial Economics, 35, 4, 583–606.
    [14]Jovanovic, B.(1982), “Selection and Evolution of Industry”, Econometrica , 50, 3 , 649–670.
    [15]Lotti ,F., E. Santarelli and M. Vivarelli(2003), “Does Gibrat’s Law Hold among Young, Small Firms?” Journal of Evolutionary Economics, 13, 213–235.
    [16]Mansfield, E.(1962), “Entry, Gibrat’s Law, Innovation, and the Growth of Firms”, The American Economic Review, 52, 5, 1023–1051.
    [17]Pagano, M., F. Panetta and L. Zingales(1998), “Why do companies go public? An empirical analysis”, The Journal of Finance,63,1, 27– 64.
    [18]Simon, H.A. and C.P. Bonini(1958), “The Size Distribution of Business Firms”, The American Economic Review ,48,4, 607– 617.
    [19]Singh, A. and G. Whittington(1975), “The Size and Growth of Firms”, Review of Economic Studies, 42, 15-26.
    [20]Sutton, J.(1997), “Gibrat’s Legacy”, Journal of Economic Literature, 35, 40–59.
    [21]Wooldridge, J.M, Introductory Econometrics,South-Western ,Ohio ,2003.
    [22]Yang, M. and C.Huang(2005), “R&D,Size and Firm Growth in Taiwan’s Electronics Industry ”, Small Business Economics, 25 , 477-487.
    Advisor
  • Jin-Long Liu(劉錦龍)
  • Files
  • 944304011.pdf
  • approve immediately
    Date of Submission 2008-01-05

    [Back to Results | New Search]


    Browse | Search All Available ETDs

    If you have dissertation-related questions, please contact with the NCU library extension service section.
    Our service phone is (03)422-7151 Ext. 57407,E-mail is also welcomed.