| Summary: | 碩士 === 中國文化大學 === 會計研究所 === 92 === When the economic is depressed and the rate is slowdown, invertors have no idea but reconsidering the problems of assets allocation. As the stock market is globalized, capital is flew frequently from country to country. In order to connect with international, the authority of management has to make the transmission of company’s information more rapid and clear.
The study focuses on the restudy of earnings components and the return on stock price to understand how the reflection of earnings components on the stock market is. The study also researches the continuance of each item and inspected whether the in-cremental informativeness of earnings exists or not. Among the past model, the study broadens the study periods and classifies the data according to year and industry. Why the study does such classification is for two reasons. One is to examine the past scholas-tic conclusions. And the other is to observe whether the industrial characteristics change the results or not.
The empirical results are as follows: First, the earnings in Taiwan’s stock market have informativeness, but explainative ability of the earnings is average low. Results found that informativeness of earnings in each industry is significant except glass manufacture industry, paper manufacture industry, tourism, department store industry. In all industry, the highest explainative ability exists in motor industry, steel industry, the lowest exists in textile industry, shipping industry.
Second, in UNII, the market’s reflection of income from other item is bigger than those from income from operation. In UNII, the highest industries are motor industry and cement industry, the lowest are electrical engineering industry and textile industry. In UOI, the highest industries are rubber industry and motor industry, the lowest are electrical engineering industry and textile industry. In UDAAII, the highest industries are motor industry and cement industry, the lowest are electrical engineering industry and textile industry.
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