| Summary: | 碩士 === 國立雲林科技大學 === 財務金融系 === 103 === This thesis mainly examines the ex-dividend investment strategies in electronic industry sector of Taiwan stock exchange and test whether participating the ex-dividend investments can be profitable during the 20-day event window. We also try to sort out the potential factors influencing the profits of ex-dividend investments. The research sample encompasses the dividend events of electronic sector of Taiwan stock exchange, excluding the TDRs, during the period, 1011-2013. We investigate the potential influences of several factors on the performance of ex-dividend investments, including cash dividend, size, trading volume, turnover rate, and price-net value ratio. The empirical results indicate that cash dividend and price-net value ratio exert negative impacts on profits of ex-dividend investments whereas trading volume positively associates with ex-dividend profits. Specifically, event firms with less cash dividend and low price-net value ratio generate higher ex-dividend profits than these counterparts, while firms with high trading volume can profit more in ex-dividend investment than those with low trading volume.
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