Research on the divergence between enterprise operating performance and market value

• Main Authors: Fang, Han-Pin, 方漢濱
• Other Authors: Wang, Sue-Fung
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/hp6e5x

碩士 === 國立交通大學 === 管理學院財務金融學程 === 106 === This study conducted statistical analysis from the TWSE-listed and OTC-listed companies whose operating performance diverged from its market value account for the proportion of the overall companies, discussed the specific conditions of diverged company and explore other possible causes of divergence. The conclusions of thesis discovered that the divergence phenomenon occurred no matter by “Revenue Per Share”、“Operating Income Per Share” or “ Earning Per Share” analysis, especially the more serious divergence in the optoelectronic technology industry and the company with greater equity size. On the whole, the proportion of companies with divergence accounts for only slightly less than the proportion of undifferentiated companies. It can be seen that the Taiwan market is still generally efficient, but it is closer to the weaker efficiency market.