資訊不確定性、資訊不對稱與公司營運績效之關聯

Information Uncertainty, Information Asymmetry, and Firm Operating Performance

莊婕伃(Chieh-Yu Chuang)

指導教授 ： 廖咸興

國立臺灣大學/管理學院/財務金融學研究所/碩士(2018年)

https://doi.org/10.6342/NTU201801271

摘要

資訊不確定性、資訊不對稱在過去鮮少運用於公司營運績效表現的研究上。本研究從公司營運績效的角度切入，探討資訊不確定性、資訊不對稱分別與公司營運績效之關聯。本研究蒐集1993年至2012年公司年資料進行分析。實證結果發現，在控制公司特徵變數後，資訊不確定性、資訊不對稱分別與公司營運績效表現呈負向關係。此外，在分別加入市場競爭程度、信用評準差異條件後，資訊不確定性、資訊不對稱對於公司營運績效表現的負向影響更為明顯。

關鍵字

資訊不確定性 ； 資訊不對稱 ； 公司營運績效 ； 市場競爭程度 ； 信用評準差異程度

並列摘要

This study investigates the effects of information uncertainty and information asymmetry on firm operating performance by employing the financial data of American company from 1993 to 2012. The empirical results show that the information uncertainty and information asymmetry effects significantly explain the firm operating performance. In addition, these results are robust when controlling for other well-known firm specific variables. Furthermore, after adding the dummy variable, market competition and financial constraints, the empirical results show that the effects are more significantly.

並列關鍵字

Information Uncertainty ； Information Asymmetry ； Firm Operating Performance ； Market Competition ； Credit Quality

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