

台灣上市公司的現金持有、現金持有價值與公司生命週期:預防性動機假說之驗證
204
j.jfineco.2011.04.002
DeAngelo, H., and DeAngelo, L. 2006. The irrelevance of the MM dividend irrelevance
theorem.
Journal of Financial Economics
, 79 (2): 293-315. doi:10.1016/j.
jfineco.2005.03.003
DeAngelo, H., DeAngelo, L., and Stulz, R. M. 2006. Dividend policy and the earned/
contributed capital mix: A test of the life-cycle theory.
Journal of Financial
Economics
, 81 (2): 227-254. doi: 10.1016/j.jfineco.2005.07.005
. 2010. Seasoned equity offerings, market timing, and the corporate lifecycle.
Journal of Financial Economics
, 95 (3): 275-295. doi: 10.1016/j.jfineco.
2009.11.002
Denis, D. J., and Sibilkov, V. 2010. Financial constraints, investment, and the value of cash
holdings.
Review of Financial Studies
, 23 (1): 247-269. doi: 10.1093/rfs/hhp031
Dittmar, A., and Duchin, R. 2011.
The dynamics of cash
. Working paper, University of
Michigan, Ann Arbor, MI.
Dittmar, A., Mahrt-Smith, J., and Servaes, H. 2003. International corporate governance and
corporate cash holdings.
Journal of Financial and Quantitative Analysis
, 38 (1):
111-133. doi: 10.2307/4126766
Fama, E. F., and French, K. R. 1998. Taxes, financing decisions, and firm value.
The
Journal of Finance
, 53 (3): 819-843. doi: 10.1111/0022-1082.00036
. 2001. Disappearing dividends: Changing firm characteristics or lower propensity
to pay?.
Journal of Financial Economics
, 60 (1): 3-43. doi: 10.1016/S0304-
405X(01)00038-1
Fama, E. F., and MacBeth, J. D. 1973. Risk, return, and equilibrium: Empirical tests.
Journal of Political Economy
, 81 (3): 607-636. doi: 10.1086/260061
Faulkender, M., and Wang, R. 2006. Corporate financial policy and the value of cash.
The
Journal of Finance
, 61 (4): 1957-1990. doi: 10.1111/j.1540-6261.2006.00894.x
Gamba, A., and Triantis, A. 2008. The value of financial flexibility.
The Journal of Finance
,
63 (5): 2263-2296. doi: 10.1111/j.1540-6261.2008.01397.x
Greiner, L. E. 1972. Evolution and revolution as organizations grow.
Harvard Business
Review
, 50 (4): 37-46.
Grullon, G., Michaely, R., and Swaminathan, B. 2002. Are dividend changes a sign of firm
maturity?.
Journal of Business
, 75 (3): 387-424. doi: 10.1086/339889
Han, S., and Qiu, J. 2007. Corporate precautionary cash holdings.
Journal of Corporate
Finance
, 13 (1): 43-57. doi: 10.1016/j.jcorpfin.2006.05.002