A Study of the Effect of Stock-Repurchase In Electronic Industry
碩士 === 逢甲大學 === 會計與財稅所 === 92 === Abstract This paper investigates the effect of stock-repurchase announcements on the stock prices of electronic industry in Taiwan and on the magnitude of different standardized abnormal returns by using an event study with the market model and the OLS approach....
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ndltd-TW-092FCU056710282016-06-10T04:16:32Z http://ndltd.ncl.edu.tw/handle/45364746478348705219 A Study of the Effect of Stock-Repurchase In Electronic Industry 我國電子業實施庫藏股效應之研究 Chun-Kai Hwang 黃群凱 碩士 逢甲大學 會計與財稅所 92 Abstract This paper investigates the effect of stock-repurchase announcements on the stock prices of electronic industry in Taiwan and on the magnitude of different standardized abnormal returns by using an event study with the market model and the OLS approach. We test the signaling information hypothesises through the channel of signaling effect and signaling strength. We find the result that ,in overall,stockholders gain significantly the standardized average abnormal return on the stock repurchase announcement day and the three consecutive days ,which supports “information signaling hypothesis” .On the other hand ,with respect to signaling strength ,there are significantly different announced purposes of stock repurchase in electronic industry ,and the abnormal returns at the first time repurchase are higher than those for the second and third time repurchase. none 林正寶 2004 學位論文 ; thesis 47 zh-TW |
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碩士 === 逢甲大學 === 會計與財稅所 === 92 === Abstract
This paper investigates the effect of stock-repurchase announcements on the stock prices of electronic industry in Taiwan and on the magnitude of different standardized abnormal returns by using an event study with the market model and the OLS approach. We test the signaling information hypothesises through the channel of signaling effect and signaling strength. We find the result that ,in overall,stockholders gain significantly the standardized average abnormal return on the stock repurchase announcement day and the three consecutive days ,which supports “information signaling hypothesis” .On the other hand ,with respect to signaling strength ,there are significantly different announced purposes of stock repurchase in electronic industry ,and
the abnormal returns at the first time repurchase are higher than those for the second and third time repurchase.
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none Chun-Kai Hwang 黃群凱 |
author |
Chun-Kai Hwang 黃群凱 |
spellingShingle |
Chun-Kai Hwang 黃群凱 A Study of the Effect of Stock-Repurchase In Electronic Industry |
author_sort |
Chun-Kai Hwang |
title |
A Study of the Effect of Stock-Repurchase In Electronic Industry |
title_short |
A Study of the Effect of Stock-Repurchase In Electronic Industry |
title_full |
A Study of the Effect of Stock-Repurchase In Electronic Industry |
title_fullStr |
A Study of the Effect of Stock-Repurchase In Electronic Industry |
title_full_unstemmed |
A Study of the Effect of Stock-Repurchase In Electronic Industry |
title_sort |
study of the effect of stock-repurchase in electronic industry |
publishDate |
2004 |
url |
http://ndltd.ncl.edu.tw/handle/45364746478348705219 |
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