The Fiscal Year-end Effect in Taiwan

• Main Authors: Cheng-Chieh,chiang, 江政杰
• Other Authors: Lin-Lin
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/44532594823395498140

碩士 === 國立暨南國際大學 === 管理學院經營管理碩士學位學程碩士在職專班 === 98 === Abstract Articles of earning information with excess return have been published and studied for many years. Studies have been focused on the content of earning information itself, as well as the perspective of corporate financial characteristics. Although the studies have been very successful in detailing the relationship between the earning information and the excess return on stock market, investors in Taiwan were still looking for the simplest way that could provide more efficient and consistent compensation in stock market and the impact of degree and the direction of earning information. In this study, regression analysis approach has been used to understand whether accounting and financial information on companies has influence on companies’ stock price and to indicate the timing to purchase as for investors’ investment strategy to earn excessive return. In the study, companies’ financial and accounting data were used to determine whether its’ stock price has been influenced and the degree of impact before and after the fiscal earning has announced. The result could be one of the technical analysis for future investment strategy.