An Empirical Study:Institutional Investor Entrust Investment Advisory/ Investment Trust Company To Investment Discretion

• Main Authors: Chao,Shuang-Wei, 趙霜微
• Other Authors: Prof.Quang-Hua Chen
• Format: Others
• Language: zh-TW
• Published: 2003
• Online Access: http://ndltd.ncl.edu.tw/handle/06472676861622539238

碩士 === 國立交通大學 === 經營管理研究所 === 91 === When the Investment Discretion has been passed on June 30, 2000, Institutional Investor has a new kind of financial instrument. However, one and a half year later, transaction is not as good as prediction. The research applies the Agency and Related Theories in marketing by Mark Bergen etc in1992 as a basis. In terms of the surveys to 500 large institutional Investor ranked by enterprises in Taiwan, We can understand what are the factors affecting Institutional Investor to entrust Investment Advisory/ Investment Trust Company to Investment Discretion. The result shows that institutional investors pay attention to the characters of Investment Advisory/ Investment Trust Company, including of six factors “background” 、“seriously control” 、“establishing system” 、“kindly service” 、“profession” 、“taking investor measurement”. Then, which factors are dominant depends on different kind of investors. In the evaluation of several environment factors about entrusting agency to investment, from the basis data of institutional investor, the difference of age, capital and employee’s members in all factors is significant; the difference of public outstanding in the factor —the amount of entrusting and the kind of entrusting asset is significant; the difference of industry in the factor — the amount of entrusting, the kind of entrusting asset, the target of investment and the environment at entrusting is significant. At last, suggestions are proposed to institutional investors according to the result of the study.