The Relationship between the Insiders’ Pledge ratios of Taiwan Electronic Listed

碩士 === 國立高雄第一科技大學 === 財務管理系 === 89 === Although a higher pledge ratio of insiders indicates a higher demand for funds, there are two possible explanations underlie this higher pledge ratio. First of all, a higher pledge ratio may result from a financial cr...

Full description

Bibliographic Details
Main Authors: Pin-En Wu, 吳秉恩
Other Authors: John W.T.Shyng
Format: Others
Language:zh-TW
Published: 2001
Online Access:http://ndltd.ncl.edu.tw/handle/84823141716953446498
id ndltd-TW-089NKIT0305018
record_format oai_dc
spelling ndltd-TW-089NKIT03050182016-01-29T04:28:38Z http://ndltd.ncl.edu.tw/handle/84823141716953446498 The Relationship between the Insiders’ Pledge ratios of Taiwan Electronic Listed 台灣電子業上市公司內部關係人股權質押與股價關係之研究 Pin-En Wu 吳秉恩 碩士 國立高雄第一科技大學 財務管理系 89 Although a higher pledge ratio of insiders indicates a higher demand for funds, there are two possible explanations underlie this higher pledge ratio. First of all, a higher pledge ratio may result from a financial crisis which subsequently causes a lower stock price. In other words,there is a negative relationship between a company’s pledge ratios and stock prices. Second,a higher pledge ratio may indicate an increase in investment which will then cause stock prices to rise. Thus,there is a positive relationship between a company’s pledge ratios and stock prices The main purpose of this thesis is to study the relationship between a company’s pledge ratios and stock prices. Also,we examine if the relationship should change under different economic situations. Based on the data of fifty-five Taiwan Electronic Listed Company from January 1998 to December 2000 ,our empirical results show that: (1) there are fifteen companies whose relationships between pledge ratios and stock prices are pasitive,twenty-two companies whose relationships are negative, and eighteen companies whose relationships are insignificant. (2) there are nineteen companies whose relationships between pledge ratios and stock prices are affected by different economic situations,and thirty-five companies whose relationships are not affected. (3) there is no significant relationship between a company’s pledge ratios and rates of return on stocks. Moreover,the relationship is not affected by different economic situations. John W.T.Shyng 邢慰祖 2001 學位論文 ; thesis 84 zh-TW
collection NDLTD
language zh-TW
format Others
sources NDLTD
description 碩士 === 國立高雄第一科技大學 === 財務管理系 === 89 === Although a higher pledge ratio of insiders indicates a higher demand for funds, there are two possible explanations underlie this higher pledge ratio. First of all, a higher pledge ratio may result from a financial crisis which subsequently causes a lower stock price. In other words,there is a negative relationship between a company’s pledge ratios and stock prices. Second,a higher pledge ratio may indicate an increase in investment which will then cause stock prices to rise. Thus,there is a positive relationship between a company’s pledge ratios and stock prices The main purpose of this thesis is to study the relationship between a company’s pledge ratios and stock prices. Also,we examine if the relationship should change under different economic situations. Based on the data of fifty-five Taiwan Electronic Listed Company from January 1998 to December 2000 ,our empirical results show that: (1) there are fifteen companies whose relationships between pledge ratios and stock prices are pasitive,twenty-two companies whose relationships are negative, and eighteen companies whose relationships are insignificant. (2) there are nineteen companies whose relationships between pledge ratios and stock prices are affected by different economic situations,and thirty-five companies whose relationships are not affected. (3) there is no significant relationship between a company’s pledge ratios and rates of return on stocks. Moreover,the relationship is not affected by different economic situations.
author2 John W.T.Shyng
author_facet John W.T.Shyng
Pin-En Wu
吳秉恩
author Pin-En Wu
吳秉恩
spellingShingle Pin-En Wu
吳秉恩
The Relationship between the Insiders’ Pledge ratios of Taiwan Electronic Listed
author_sort Pin-En Wu
title The Relationship between the Insiders’ Pledge ratios of Taiwan Electronic Listed
title_short The Relationship between the Insiders’ Pledge ratios of Taiwan Electronic Listed
title_full The Relationship between the Insiders’ Pledge ratios of Taiwan Electronic Listed
title_fullStr The Relationship between the Insiders’ Pledge ratios of Taiwan Electronic Listed
title_full_unstemmed The Relationship between the Insiders’ Pledge ratios of Taiwan Electronic Listed
title_sort relationship between the insiders’ pledge ratios of taiwan electronic listed
publishDate 2001
url http://ndltd.ncl.edu.tw/handle/84823141716953446498
work_keys_str_mv AT pinenwu therelationshipbetweentheinsiderspledgeratiosoftaiwanelectroniclisted
AT wúbǐngēn therelationshipbetweentheinsiderspledgeratiosoftaiwanelectroniclisted
AT pinenwu táiwāndiànziyèshàngshìgōngsīnèibùguānxìréngǔquánzhìyāyǔgǔjiàguānxìzhīyánjiū
AT wúbǐngēn táiwāndiànziyèshàngshìgōngsīnèibùguānxìréngǔquánzhìyāyǔgǔjiàguānxìzhīyánjiū
AT pinenwu relationshipbetweentheinsiderspledgeratiosoftaiwanelectroniclisted
AT wúbǐngēn relationshipbetweentheinsiderspledgeratiosoftaiwanelectroniclisted
_version_ 1718172344924504064