| Summary: | 碩士 === 淡江大學 === 財務金融學系 === 90 === ABSTRACT
When a rational investor to face the global financial market, he should theoretically diversified the portfolio to lower risk and higher returns. But we found that foreign capitals invest Taiwan stock market, they don’t diversify their portfolio but prefer stock with certain stock characters and it is so called “home bias puzzle”.
In this thesis, we based on the home-bias situation and want to find out what stock characters is preferred by foreign capitals in Taiwan stock market.
The empirical results ：
1.When foreign capitals invest Taiwan stock market, they prefer companies with good financial conditions and stable growth.
2.Because of the electronic industry is the main stream in Taiwan, so we can find that when foreign capitals invest electronic industry, just as result 1, they prefer companies with good financial condition and stable growth also.
3.Because of the fundamental conditions is not good about financial industry and traditional industry, foreign capitals are more opportunistic in this two industry.
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