| Summary: | 碩士 === 東吳大學 === 國際經營與貿易學系 === 106 === This paper applies the Fama-MacBeth Model and the survivorship bias theory to analyze the data collected from Exchange Traded Funds in Taiwan from 2009 to 2017.
The target of the samples include Exchange Traded Funds except overseas type, product type, leverage type, and reverse type, etc, and the purpose of this research is the investigation of the relationship between variables for performances of future Exchange Traded Funds and studies that be established for ten years and four years analysis. Moreover, our applied variables are total expense, transaction fees, accounting fees, Book-Price Ratio, Cash flow Ratio to market valu, Cash flow Ratio to Current liability, Price-Earnings Ratio, ETF yield, tracking difference, scale of ETF, Discount premium Rate, turnover rate, Risk Adjusted Performance （RAP）, Beta, Standard Deviation, Jensen Index, Sharpe index, Treynor Index, and Information Ratio Exchange Traded Funds.
The establishment of Exchange Traded Funds for nine years is to verify the correlation of cumulative returns from 2009 to 2017 ,the Exchange Traded Funds that have been established for the full four years are relevant to verify the cumulative return rate from 2014 to 2017.
Finally, we select the top three variables （Risk Adjusted Performance, Sharpe index, Information Ratio）that these variables are the better indexes for the evaluation of fund performances.
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