Investors' order submission behaviors in the face of open market stock repurchase in the Taiwan stock market
碩士 === 國立東華大學 === 國際經濟研究所 === 94 === Applying the intraday order data, we examine investors’ reactions to the open market stock repurchases (OMR) in the Taiwan stock market. We find that OMR announcement is a reliable signal and the market reaction to the announcement is positive, pushing up the sto...
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| Other Authors: | |
| Format: | Others |
| Language: | zh-TW |
| Published: |
2006
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| Online Access: | http://ndltd.ncl.edu.tw/handle/51256329454740581008 |
| Summary: | 碩士 === 國立東華大學 === 國際經濟研究所 === 94 === Applying the intraday order data, we examine investors’ reactions to the open market stock repurchases (OMR) in the Taiwan stock market. We find that OMR announcement is a reliable signal and the market reaction to the announcement is positive, pushing up the stock prices. Foreign investors are on the net-selling side around the event days. Individual investors, security investment trust companies, and security dealers net-sell the OMR stocks before the OMR announcements and buy those after. Other institutional investors are on the net-buying side around the event days.
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