The Price Effect of Repurshase Announcement under Subprime Mortgage Crisis-The case in Taiwan
碩士 === 國立交通大學 === 理學院碩士在職專班應用科技學程 === 98 === The purpose of this research is to explore the effect of stock repurchase announcement using the event study methodology. I also investigated whether the company characteristics influence this effect through t-tests and multiple regressions. The result de...
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| Format: | Others |
| Language: | zh-TW |
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2010
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| Online Access: | http://ndltd.ncl.edu.tw/handle/43052935339406795365 |
| Summary: | 碩士 === 國立交通大學 === 理學院碩士在職專班應用科技學程 === 98 === The purpose of this research is to explore the effect of stock repurchase announcement using the event study methodology. I also investigated whether the company characteristics influence this effect through t-tests and multiple regressions. The result demonstrated that the announcement effect is rather salient. The repurchase decision has effectively stabilized the declining stock prices. This announcement effect is stronger if the PE ratio is higher. Moreover, the capital stock has a significant impact on the announcement effect, which supports the information asymmetry hypothesis. However, PB ratio seems not showing any significant influence on the stock price of the repurchasing firm.
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