An Analysis of Event Study of Stock Repurchase in Different Industries

• Main Authors: CHEN, YING-JU, 陳瀅如
• Other Authors: YUAN, SHU-FANG
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/un2q65

碩士 === 南華大學 === 企業管理學系管理科學碩博士班 === 105 === 　　Event study method is employed by this study to examine whether the effect of Stock Repurchases strategy adopted by the company will be different with the industries characteristics. Seven industries in Taiwan stock market are evidenced to test whether the Signaling Hypothesis suggested by Miller and Modiglian (1961) can be supported. According to the empirical result, the industries of semiconductor, communication network, optoelectronics, electronic components and traditional industry and part of biotechnology industry are in line with the signaling hypothesis but the results of financial industry are not. 　　It is consistent with the inference of this study which infers that the effect of the repurchase stock are different with their industrial property.