Fundamental Analysis ofthe Stock-Picking Strategy Verificationon Malaysia Stocks Market From 2003 to 2013

• Main Authors: Yang Yao Chen, 楊曜禎
• Other Authors: 鍾俊文
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/2m6227

碩士 === 東吳大學 === 國際經營與貿易學系 === 103 === This research that is based on the Fama and French (1992) grouping method use 11 fundamentals and combine with single indicator、composite indicator to test the Main-Board Market of Bursa Malaysia from 2003 to 2013. It wants to find out commodity selection index that can explain the rate of stock return and best investment portfolio in order to build a multi-factor model which performance better than the broader market. The results of study indicate as follows: (1) Under single indicator of stock-picking strategy, cash dividend ratio and sales-to-price ratio (S/P) have the best performance. (2) Under composite indicator of stock-picking strategy, the performances that combine cash dividend ratio with sales-to-price ratio (S/P) are the best.(3) Assessing the rate of return and performance of the Sharpe ratio by single indicator and composite indicator, the performances of composite indicator are better than single indicator.(4) No matter under single indicator of stock-picking strategy or composite one, it can get excess returns as along as the investment performance is better than the broader market.