The Stock Returns Effect of Treasury Stock Repurchase Announcement for Listed Companies in Taiwan

• Main Authors: Chi-mei Huang, 黃琦梅
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/57733476212409975451

碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 101 === This study is to study the implementation of treasury shares from 2010 to 2012 listed companies in China have an impact on the price-to-book, data from the "Taiwan Stock Exchange", MOPS data input Tej "Taiwan Economic Journal database "daily returns and event study methodology to analyze the treasury stock on stock returns, the information obtained a total of 316 samples. Market model to predict the mode of calculation of the rate of return on common minimum average method (OLS)-dimensional model parameter estimation method, and then the t-statistic test. The empirical results show that listed companies have negative abnormal returns before declared the implementation of treasury shares; declared significant positive returns.