公司訴訟案最初宣告對股東財富影響

本研究以民國八十三年一月一日起至九十三年十二月三十一日期間，有訴訟案件之上市(櫃)公司為研究對象，探討訴訟事件之宣告對原告及被告公司股東財富的影響。研究結果發現訴訟事件對被告公司之股價有顯著負面影響，而對原告而言則並無顯著影響性。除此之外，若依不同的訴訟對造及不同的訴訟案由細分，可發現被告公司被政府告或被提告的訴訟案由為公司治理及傾銷案時，其承受較大股東財富下跌的壓力。就原告公司而言，相較於其他對象，原告公司對政府提出訴訟對原告公司股東財富有較高正向的影響，特別是針對傾銷案案由提出訴訟。

關鍵字

公司訴訟案；訴訟對造；訴訟案由；事件研究；股東財富

並列摘要

This study examines the impact of initial corporate lawsuit on the value of both the defendant and plaintiff firms. The sample was collected by conducting a comprehensive reading of the InfoWinner Plus for the years 1994 through 2004. Results show that defendants experience negative returns upon the filing announcement; whereas there is no statistically significant return upon lawsuit filing for the plaintiff sample. Further, defendants experience the largest wealth declines when the lawsuit is brought by government and the negative wealth effects appear to be the result of corporate governance and dumping suit. Plaintiffs, especially involved in dumping suits, experience positive abnormal returns for the government category upon filing.

並列關鍵字

Corporate Lawsuit ； Opposing Party ； Legal Issue ； Event Study ； Shareholders' Wealth

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