- 管理研究所
教授
- 周德瑋
- 專長:公司理財、 公司治理、代理問題、公司績效股價表現
- E-mail:dwchou@ntnu.edu.tw
- 電話:02-7749-3305
- 學歷:美國德瑞索大學 LeBow School of Business 財務博士
- 113-2 休假研究
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Chinese firms offer unique insight into capital structure dynamics because tradeoffs and constraints involved differ greatly from Western firms. Greater constraints on equity issuance combined with lesser tax benefits and bankruptcy cost should present fewer incentives for a target capital structure. Nevertheless, we find the capital structure behavior over time of Chinese firms is similar to US firms in gravitating toward a common mean and exhibiting at least as much persistence, and a similar speed of adjustment. Perhaps capital structure dynamics of both American and Chinese firms are based on managerial preferences that stem from tradition or observed practices rather than any of the extant theories.
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De-Wai Chou, Lin Lin, Pi-Hsia Hung, Chun Heng Lin(2017,Jan). A revisit to economic exposure of U.S. multinational corporations. North American Journal of Economics and Finance(SSCI, Economics and Finance, IF:1.36; ISSN:1062- 9408)
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Chia- Ying Chan, De-Wai Chou, Huai-Chun Lo(2017, Jan). Do financial constraints matter when firms engage in CSR?. North American Journal of Economics and Finance(SSCI, Economics and Finance,IF:1.36; ISSN: 1062- 9408). MOST100-2628-H-003-003-MY3
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Chan, Chia-Ying, David Chou*, and Christine W. Lai, 2016, Does the Stock Market Favor Socially Responsible Firms? Evidence from SEOs, Taiwan Economic Review 44, 339-377 .(TSSCI)
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Chou, De-Wai , Pei-Ching Huang, and Christine W. Lai*, 2016, New Mutual Fund Managers: Why Do They Alter Portfolios? Journal of Business Research 69, 2167-2175. [SSCI (5-Year Impact Factor: 2.67), Corresponding Author, 科技部管理領域推薦期刊; 2016「第十屆證券暨期貨金椽獎」小論文組甲等獎]
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Chia-Ying Chan, De-Wai Chou, Jane-Raung Lin, Feng-Ying Liu (2016, Jan). The Role of Corporate Governance in Forecasting Bankruptcy: Pre- and Post- SOX Enactment. North American Journal of Economics and Finance, 35 (2016): 166-188. (SSCI).
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Chen, Hsuan-Chi, De-Wai Chou*, Christine W. Lai, and Yi-Ting Yeh, 2014, The Role of Lending-Relationship Banks in the Underwriting of Seasoned Equity Offerings: Conflict of Interest or Certification, The North American Journal of Economics and Finance 28, 327-346. (SSCI)
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J. R. Philip Lin, Chia-Jane Wang, De-Wai Chou and Chueh-Fei Chun, “Financial constraint and the choice between leasing and debt”, International Review of Economics and Finance(SSCI; ISSN: 1059-0560), Vol.27, pp. 171-182, June, 2013.
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Chou, De-Wai, J. R. Philip Lin, Chia-Ying Chan and Shih-Cheng Chang, “The Impact of Earnings Management on the Choice of Debt Maturity Structure”, Management Review (TSSCI), Volume 30 No.4, 2011.
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Chou, De-Wai, Michael Gombola and Feng-Ying Liu, “Earnings Management and Long-Run Stock Performance Following Private Equity Placements” Review of Quantitative Finance and Accounting(FLI), Volume 34 No. 2, pp. 225-245. 2010.
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Yang Sheng-Yung, Lin Lin, De-Wai Chou and Hsiao-Chen Cheng, “Merger Drives and the Change of Bidder Shareholders’ Wealth,” Service Industrial Journal (SSCI), 20 October 2009 (iFirst).
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Chou, De-Wai, Michael Gombola and Feng-Ying Liu, “Long-Run Stock Performance Following Private Placement of Equity: The Role of Growth Opportunity”, Quarterly Review of Economics and Finance (FLI), Volume 49, Issue 3, August 2009, Pages 1113-1128.
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Chou, De-Wai, Yi Liu, and Zaher Zantout, “Long-Term Stock Performance following Extraordinary and Special Cash Dividends,” Quarterly Review of Economics and Finance(FLI), Vol.49, No.1, Jan., 54-73, 2009.
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Chou, De-Wai, C. Edward Wang, Sheng-Syan Chen and Sandra Tsai “Earnings Management and the Long-Run Underperformance of Firms Following Convertible Debt Offerings”, Journal of Business Finance and Accounting (SSCI), Vol.36, No.1, March, pp.73-98, 2009.
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De-Wai Chou, De-Wai, Lin Lin, Yen-Chih Lin, and Yanzhi Wang*, 2008. The Sources of Value Premiums- Fundamental Analysis Approach. Management Review (管理評論) 27, 4, 57-58.
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All that Glitters is not Gold: False Signals from Open-Market Share Repurchases, (with J. R. Philip Lin, and C. Edward Wang), 臺灣財務金融學會學術研討會,Taichung, June, 8-9, 2007.
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Yang, Sheng-Yung, De-Wai Chou, Shuh-Chyi Doong and Hung-Wei Lin, “Financial Analyst Characteristics and Accuracy in EPS Forecasting”, Journal of Management (TSSCI), Vol.24, No.4, August, 469-484, 2007.
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Wang, C. Edward, De-Wai Chou, and Hung-Rong Chen, “Determinant Factors of Payment Method of Mergers and Market Reaction,” Review of Securities and Futures Markets (TSSCI), Vol. 18, No. 2, Oct. 2006.
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Chou, De-Wai, Michael Gombola and Feng-Ying Liu, “Earnings Management and Stock Performance of Reverse Leveraged Buyouts,” Journal of Financial and Quantitative Analysis (SSCI), Vol. 41 Issue 2, Jun. 2006, 407-438, 32p.
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Lin Lin, Jenifer Piesse and De-Wai Chou, “Acquiring Firm Characteristics and Stock Market Efficiency: A case Study Approach,” International Journal of Financial Services and Management (ABI), Vol. 6 No.6, 2005, 576-598.
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“CEO Perquisite and Firm's Acquisition Performance" (with Chia-Ying Chan, Kuo-An Li and Christian DePeretti), presented at 2013 Annual Meeting of the Financial Management Association International at the Chicago Hyatt Regency Hotel , Chicago, USA,16-19 October 2013.
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“Do Investors React Differently in M&A Deal for CSR Firms?” (with Chia-Ying Chan, Ying-Ying Du and Li-Chen Chen, presented at 2013 Financial and Economic Challenges in the aftermath of Financial Crisis at National Taiwan Normal University, Taipei, 11-13 July 2013.
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“The Role of the Sarbanes-Oxley Act in Bankruptcy Prediction: Testing the Effects of the Regulatory Changes”(with Feng-Ying Liu, Jane-Raung Lin, Chia-Ying Chan), presented at BAI 2013 International Conference on Business and Information at Grand Hyatt Bali, Indonesia, 07-09 July 2013.
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“Do Socially Responsible Firms Manage Earnings Around SEOs (with Chia-Ying Chan, Edward Nelling, Christine W. Lai)” presented at Southern Finance Association Annual Meetings, Charleston, South Carolina, US, November 14 - 17, 2012.
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“Do Corporate Socially Responsible Firms Act More Reliably --- The Evidence Of Earnings Management In SEOs(with Chia-Ying Chan, Edward Nelling, Christine W. Lai)” presented at 2012 International Conference on Business and Information, Sapporo, Japan, July, 03-05, 2012.
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Chou, D., Liu, F., Chan, C., & Lin, J. (2012). The Role of the Sarbanes-Oxley Act in Bankruptcy Prediction: Testing the Effects of its Regulatory Changes. Eastern Finance Association Annual Meeting, Boston, Massachusetts.
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"The Role Of Corporate Governance In Forecasting Bankruptcy: Pre- And Post- Sox Enactment " (with J. R. Philip Lin, and Chia-Ying Chan), presented at Singapore Economic Review Conference (SERC) 2011, August, 4-6, 2011, Singapore.
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“Choosing between Leasing and Debt and Leasing Puzzle Revisited” (with Chia-Jane Wang, and J. R. Philip Lin), presented at Southern Finance Association Annual Meetings November 17 - 20, 2010, Asheville, North Carolina.
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"Do Firms Rebalance Their Capital Structures? Evidence from Chinese Post-IPO Leverage Changes" (with Michael Gombola and Feng-Ying Liu), presented at An International Conference on Financial Markets in China, July 24-26, 2010, Shanghai, China.
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"An Empirical Study on Corporate Governance and the Financial Failure Prediction Model " (with J. R. Philip Lin, Wh-Ling Chen, and Chia-Ying Chan), presented at Asian Finance Association 2010 Conference, June 29 to July 2, 2010, Bangkok(moved to HongKong), Thailand.
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“The Impact of Earnings Management on the Choice of Debt Maturity Structure” (with J. R. Philip Lin and Shih-Cheng Chang), presented at Singapore Economic Review Conference (SERC) 2009, August, 6-8, 2009, Singapore.
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"Do Firms Rebalance Their Capital Structures? Evidence from Chinese Post-IPO Leverage Changes" (with Michael Gombola and Feng-Ying Liu), presented at 45rd Eastern Finance Association Annual Meeting, Washington D.C., USA, April 29-May 2, 2009.
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“The Long-Run Underperformance Following Private Placements of Equity: The Role of Growth Opportunities” (with Michael Gombola and Feng-Ying Liu), will be presented at 14th Annual Conference of the Multinational Finance Society, Thessaloniki, Greece, July 1-4, 2007.
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“All that Glitters is not Gold: False Signals from Open-Market Share Repurchases,” (with J. R. Philip Lin, and C. Edward Wang), 臺灣財務金融學會學術研討會,Taichung, June, 8-9, 2007.
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“Distress Risk and Stock Returns Following Private Placements of Equity” (with Michael Gombola and Feng-Ying Liu), presented at 43rd Eastern Finance Association Annual Meeting, Royal Sonesta, New Orleans, LA, Sweden, April 18-21, 2007.
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科技部(原國科會) 平等與社會正義之理論與制度實踐:全球化下不均現象、全球正義與企 業社會責任之探討-(子計畫四)平等與社會正義之理論與制度實踐:職工福利、企業 社會責任與社會責任基金 協同/共同主持人
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科技部(原國科會) 平等與社會正義之理論與制度實踐:全球化下不均現象、全球正義與企 業社會責任之探討-(子計畫四)平等與社會正義之理論與制度實踐:職工福利、企業 社會責任與社會責任基金 協同/共同主持人
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國科會 公司上市(櫃)後"何時首次發放股利"及 "發放多少股利"對股利宣告效果及長期表現有影響嗎?台灣實證研究 主持人
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國科會 風險、報酬與企業社會責任: 台灣實證研究 主持人
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國科會 中國資本市場股權分置改革與公司理財相關議題 主持人
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國科會 公司理財整合型研究計畫-子計畫二:資訊優勢關係人與公司理財(3/3) 主持人
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國科會 公司理財整合型研究計畫-子計畫四:公司盈餘管理相關議題之探討(3/3) 主持人
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國科會 公司理財整合型研究計畫-子計畫四:公司盈餘管理相關議題之探討(2/3) 主持人
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國科會 財務危機預測模型再檢視(2/2) 主持人
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國科會 "企業社會責任" 為企業創造價值嗎?(3/3) 主持人
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國科會 "企業社會責任" 為企業創造價值嗎?(2/3) 主持人
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國科會 "企業社會責任" 為企業創造價值嗎?(1/3) 主持人
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國科會 大宗股票交易重新檢驗與長期表現 主持人
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國科會 由盈餘管理與分析師盈餘預測修正之觀點探討股票重購不實訊息傳送之可能性 協同/共同主持人
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國科會 市場時機與資本結構 – 台灣案例 主持人
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國科會 公司理財整合型研究計畫-子計畫四:公司盈餘管理相關議題之探討(1/3) 主持人
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國科會 財務危機預測模型再檢視(1/2) 主持人
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離境證券業務(OSU)開放下,券商從事股權相關新金融商品的業務機會 其他 財團法人中華民國證券暨期貨市場發展基金會
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公司理財(Corporate Finance), 公司治理(Corporate Governance), 代理問題(Agency Theory), 公司績效股價表現(Firm Performance)