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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Main Authors: Chun-Kai Hwang, 黃群凱
Other Authors: none
Format: Others
Language:zh-TW
Published: 2004
Online Access:http://ndltd.ncl.edu.tw/handle/45364746478348705219
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spelling 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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language zh-TW
format Others
sources NDLTD
description 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.
author2 none
author_facet 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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