Equity Structure and Response of Investors to Earnings Announcement
碩士 === 國立政治大學 === 經濟學系 === 103 === This paper investigates how the equity structure impacts investors in response to earning information under different states of Taiwanese stock market. The results show that investors of largest fifty companies in terms of registered capital are less responsive to...
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| Format: | Others |
| Language: | zh-TW |
| Online Access: | http://ndltd.ncl.edu.tw/handle/10399476176109005237 |
| Summary: | 碩士 === 國立政治大學 === 經濟學系 === 103 === This paper investigates how the equity structure impacts investors in response to earning information under different states of Taiwanese stock market. The results show that investors of largest fifty companies in terms of registered capital are less responsive to revealed earning information. The investors of small firms are more responsive to announced earning information. In addition, this research also empirically finds that investors of companies with concentrated equity structure would less focus on earning information. However, investors of companies with higher shares of foreign capital would typically concentrate on announced earing information.
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