管理學院: 財務金融學研究所指導教授: 廖咸興郭慧如Kuo, Hui-JuHui-JuKuo2017-03-032018-07-092017-03-032018-07-092015http://ntur.lib.ntu.edu.tw//handle/246246/274163本研究利用1997年到2010年的美國債券資料來探討資訊不對稱的不確定性如何影響公司債券利差，同時考慮期間結構與總體環境因素對此效果的影響。實證結果顯示，在控制文獻中影響公司債券利差重要的解釋變數後，資訊不對稱的不確定性對公司債券利差有顯著正向的影響，表示債券資訊不對稱的不確定性越高時，債券利差會越大。研究結果亦發現此資訊不對稱的不確定性效果特別對短期債券有顯著的影響。此外，總體環境也會影響資訊不對稱的不確定性對公司債券利差的效果，在經濟景氣較好時，資訊不對稱的不確定性對公司債券利差的正向效果會被削弱。The study examines how uncertainty in information asymmetry influences corporate bond yield spreads using American data from 1997 to 2010, and considers the effects of term structure and macroeconomic conditions on that. Empirical results show that the effect of uncertainty in information asymmetry significantly explains corporate bond yield spreads when controlling for variables well known in the literature. Bonds with higher uncertainty in information asymmetry tend to have higher yield spreads. In addition, this uncertainty in information asymmetry effect is especially noticeable among short-term bonds. Macroeconomic conditions also affect the uncertainty in information asymmetry effect on bond yield spreads. The positive relationship between a firm’s bond yield spreads and uncertainty in information asymmetry becomes weaker when economic growth rate is higher.論文使用權限: 不同意授權不完全資訊的不確定性不完全資訊資訊不對稱的不確定性資訊不對稱公司債券利差Uncertainty in incomplete informationIncomplete informationUncertainty in information asymmetryInformation asymmetryCorporate bond yield spreads[SDGs]SDG8thesis