| Summary: | 碩士 === 南華大學 === 財務金融學系財務管理碩士班 === 98 === Ex-right and ex-dividend -bearing securities market in Taiwan during the annual of price recovery patterns phenomenon, this study in accordance with the sample firms are collected listed on TSEC from 2002 to 2007 ex-right and ex-dividend during. By fundamentals factor, the financial factor, chips factor, dividend policy factor, the market factor five factor, respectively be verified using logistic model to explore what factors influence whether the phenomenon of the point price recovery patterns in time a significant effect.
Affect the overall price recovery patterns phenomenon empirical results are as follows:
1. Dividend policy of the (earnings per share - total dividends), the only electronic stock in the second month fills in the power rest phenomenon in the bull market to present positive correlation. In dividend policy factor, the more with high share in the rate of electronic stocks and other stocks and other stocks within one month in the first and second months fill right to interest phenomenon to present negative correlation.
2. The chips surface and board of directors face part of the ownership rate of electronics stocks and Taiwan listed construction companies stocks to the bear market to present the negative correlation in the first month, presents in the bull market is positive related. In the chip surface part of the foreign shareholding ratio in the electronics stocks and other stocks within the first month in the second month to present positive correlation.
3. The financial factor of the return on equity，construction in the electronics stocks
and other stocks and the Taiwan listed construction companies stocks in the first month inside with in the second month inside to present the negative correlation.
On the contrary, in the fundamentals factor of capital and high stock prices and financial factor of the PE ratio had compared with no significant effect.
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