The Impact of Water-Rationing Policy on The Stock Price Performances of Water Resources Companies

• Main Authors: LEE,YI-WEI, 李翊維
• Other Authors: HU,CHANG-KUO
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/60383996672136181376

碩士 === 真理大學 === 經濟學系財經碩士班 === 104 === The empirical results show that announcement date is more significant than implementation date in three samples of the cumulative abnormal returns, the effect of information display that announcement date has more reactive than implementation date. The conventional and electronic industry of water resource suppliers have significantly positive cumulative abnormal return rate before the announcement date, while water resource recyclers and demander have significantly negative cumulative abnormal return rate on the event date. In addition, the article recommends that investors if you want to invest the stocks of water resources, the strategy of the supplier should avoid to buy stocks after government announce the policy of limiting water; while the strategy of demander that stock holders should pay attention to the turbidity of the water plant, you should sell the stock before the turbidity rapidly increase water standards to limit approximation.