111 學年度 第 2 學期 公司理財 Corporate Finance 課程綱要

課程名稱： 開課單位： 資財系

（中文）公司理財 永久課號：
（英文）Corporate Finance
授課教師：
林智勇
學分數： 3.00 必／選修： 必修 開課年級： 3
先修科目或先備能力：
Accounting
課程概述與目標：
This course studies financial management of corporations, emphasizing the financial
aspects of managerial decisions. It touches on key areas of financing management,
including the valuation of financial assets, the trade-off between risk and expected
return, and corporate financing and capital structure.
教科書（請註明書名、 Research papers
作者、出版社、出版年
等資訊）：
課程大網 分配時數 備註
單元主題 內容綱要 講授 示範 習作 其他
Corporate Finance
教學要點概述：
1.學期作業、考試、評量
(1) Midterm exam, 40% (2) 期末報告, 40% (3) Participation 15%
2.教學方法及教學相關配合事項（如助教、網站或圖書及資料庫等）
1. Lecture.
2. Announcements, syllabus, handouts, and scores, will be posted in the E3.
師生晤談 排定時間 地點 聯絡方式
Wednesday 10:00-12:00 管一 407 chihyung@nycu.edu.tw

每週進度表
週 上課日期 課程進度、內容、主題
1 2/13 Introduction
2 2/20 Topic 6 Event Studies Methodology
3 2/27 和平紀念日
4 3/6 Paper study A: Event study
5 3/13 Paper study B: Financial Crisis
6 3/20 Paper study B: Financial Crisis
 7 3/27 Paper study C: Corporate Finance
8 4/3 清明連假
9 4/10 Midterm Exam (open one A4 page)
10 4/17 Paper study C: Corporate Finance
11 4/24 Paper study C: Corporate Finance
12 5/1 Paper study C: Corporate Finance
13 5/8 期末報告
14 5/15 期末報告
15 5/22 期末報告
16 5/29 期末報告
17 6/2 Independent Study
The 31st Annual Conference on Pacific Basin Finance, Economics,
Accounting, and Management
18 6/3 Independent Study
The 31st Annual Conference

期末報告題目(碩士班 1-2 個人一組，博班一人一組，報告 30-40 分

鐘):
You can choose one paper in the C. section (Paper presentation) to present and
criticize.
Readings Lists:
A. Event study
1. Goldman, E., Rocholl, J., So, J., 2009. Do politically connected boards affect
firm value? Review of Financial Studies 22, 2331-2360.
2. Cooper, M. J., H. Gulen, and A.V. Ovtchinnikov, 2010, Corporate political
contributions and stock returns, Journal of Finance 65, 687–724.
B. Financial Crisis
3. Bank CEO incentives and the credit crisis, JFE, 2011.
4. This Time Is the Same: Using Bank Performance in 1998 to Explain Bank
Performance during the Recent Financial Crisis, Journal of Finance 2012.
5. The credit crisis around the globe. Why did somebanks perform better, JFE,
2012.
6. Ho, P. H., Huang, C. W., Lin, C. Y., Yen, J. F., 2016, CEO overconfidence and
financial crisis: Evidence from bank lending and leverage. JFE.
C. Corporate Finance
7. Po-Hsin Ho, Chih-Yung Lin, Tse-Chun Lin, 2021, “Equity short selling and bank
loan markets” Journal of Money, Credit and Banking.
8. Chih-Yung Lin, Yehning Chen, Po-Hsin Ho, Ju-Fang Yen, 2020, “CEO
Overconfidence and Bank Loan Contracting” Journal of Corporate Finance, 64,
101637.
9. Dien Giau Bui, Yehning Chen, Chih-Yung Lin*, Tse-Chun Lin, 2021, “Bank
 risk-taking and corporate innovation.” Journal of International Money and
Finance 115, 102387.
10. CEO Global Reputation and Cross-Border M&A: Evidence from CEO’s Twitter
Account.
11. Overconfident Customers and Supplier Firm Value
12. Firm Trustworthiness and Bank Loan Pricing
13. Tacit collusion among dominant banks Evidence from round-yard loan pricing
14. The ESG Washing in Banks: Evidence from the Syndicated Loan Market
15. Cultural Biases in the syndicated loan market.
16. Can Lenders Discern Managerial Ability from Luck? Evidence from Bank Loan
Contracts.
17. Overconfident Rivals and Corporate R&D
18. CEO Charitable Donation and Employee Protection
19. Information from Inaction: Vested Options Unexercised and Firm Performance
20. Spillover Effects of Uniform Trade Secrets Act on Corporate Research and
Development
D. Paper presentation
1. Cyber risk and the U.S. financial system: A pre-mortem analysis
2. Financing constraints, home equity and selection into entrepreneurship
3. Shielding firm value: Employment protection and process innovation.
4. Endogenous inattention and risk-specific price underreaction in corporate bonds
5. Financial education affects financial knowledge and downstream behaviors
6. What is CEO overconfidence? Evidence from executive assessments
7. Young firms, old capital
8. Corporate actions and the manipulation of retail investors in China: An analysis
of stock splits
9. Silence is safest: Information disclosure when the audience’s preferences are
uncertain
10. Sustainable investing with ESG rating uncertainty
11. Peer selection and valuation in mergers and acquisitions
12. The effect of media-linked directors on financing and external governance
13. Skill versus reliability in venture capital
14. The “7% solution” and IPO (under) pricing
15. IPO peer effects
16. Beyond the target: M&A decisions and rival ownership
17. Decomposing firm value
18. Why are commercial loan rates so sticky? The effect of private information on
loan spreads
19. Consumer-lending discrimination in the FinTech Era
20. Disappearing and reappearing dividends
21. Social learning and analyst behavior
22. Core earnings: New data and evidence
23. M&A rumors about unlisted firms
24. GSIB surcharges and bank lending: Evidence from US corporate loan data.
25. What do you think about climate finance?
26. Corporate green bonds
27. Socially responsible corporate customers
28. The effect of stock liquidity on cash holdings: The repurchase motive
29. Targeted monetary policy and bank lending behavior
30. The local innovation spillovers of listed firms
31. Brexit and the contraction of syndicated lending33
32. Internet searching and stock price crash risk: Evidence from a quasi-natural
experiment
33. Do activist hedge funds target female CEOs? The role of CEO gender in hedge
fund activism
34. Negative peer disclosure
35. Directors’ career concerns: Evidence from proxy contests and board interlocks
36. Do low search costs facilitate like-buys-like mergers? Evidence from common
bank networks
37. Firm selection and corporate cash holdings
38. Air pollution, affect, and forecasting bias: Evidence from Chinese financial
analysts
39. Bank monitoring: Evidence from syndicated loans
40. Cultural Biases in Equity Analysis
41. Institutional Investors and Corporate Governance: The Incentive to Be Engaged
42. Borrowing to Save? The Impact of Automatic Enrollment on Debt
43. Fire-Sale Spillovers in Debt Markets
44. Credit Rating Inflation and Firms' Investments
45. Monetary Policy and Global Banking
46. Bad Credit, No Problem? Credit and Labor Market Consequences of Bad Credit
Reports
47. No Job, No Money, No Refi: Frictions to Refinancing in a Recession
48. The Impact of Supervision on Bank Performance
49. Political Connections and the Informativeness of Insider Trades
50. Corporate Control around the World
51. Does Borrowing from Banks Cost More than Borrowing from the Market?
52. The Dividend Disconnect
53. Employee Stock Option Exercise and Firm Cost