Summary: | 碩士 === 義守大學 === 管理學院碩士班 === 98 === For the listed companies, stock price reactions are often associated with stock shareholders asking the community to evaluate, how to effectively analyze the relationship between dividend policy with the company''s set of needs to do more in-depth analysis and discussion. The analysis of insider ownership, including the board members for the manager''s thinking, the relative distribution of dividends and share in the rewards of the relationship with the others may play the role and impact of what it is worth the focus of analysis. In the study, the year 2000 to 2007 financial information for the period of eight years of empirical research samples, found that rates of change in accounts receivable, sales growth and higher percentage of management ownership of the company, will be discretionary accruals for earnings management, users of financial statements in accordance with management to assess financial information provided to develop decisions, may be able to compare these financial ratios analysis, and thus adjust their decision-making.
The results show that insider ownership ratio and cumulative abnormal stock returns are significantly correlated, in general, investors or creditors in the measured value of the company''s information, the information is primarily based on historical financial report that is based, and then to company industrial economy, management capability and future prospects and other information.
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