Exploring the effect for financial factors to the large-scale group business in Taiwan

• Main Authors: Ya-Wen Li, 李雅雯
• Other Authors: Chun-Chou Wu
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/31319375016533398075

碩士 === 國立高雄第一科技大學 === 財務管理所 === 98 === This study is for the influence of Taiwanese large group enterprises those are under the opening emerging nations markets due to the day by day globalization, so the operation system already became the tendency, and financial management is the core. When facing the diversified stock market, many factors may affect and cause stock return varied. We selected the data of the main factors of financial achievement during the period from year 2004 to 2008. The research target of this study is those Taiwanese large enterprises selected by China Credit Information Service, Ltd., and we adapted different index of financial ratio and the statistics analysis of companies’ basic characters. Moreover, we applied capital assets pricing model to analyze the return performance of large enterprise and investigate the explanation capability of capital assets pricing model fitting. Besides, in order to analyze the achievement performance of large enterprise stock return ratio more completely, we also analyzed the fit ability by adopting Arbitrage Pricing Theory. Reviewing the financial related references, we found that except macro-economy variable could explain the stock return, excluding financial achievement factor, we also considered about non-financial operation variable of the companies as one of the factor of stock returning varied. Therefore, we adopted the company’s operation and management variables to investigate if it could increase the explanation capability of company’s stock returning varied. We found that the evaluation of both capital return and stockholders’ equity return ratio are quite outstanding in Taiwanese large group enterprises, furthermore, the relationship between the size of board of directors and the financial achievement of large group enterprise is indistinctively.