English  |  正體中文  |  简体中文  |  Items with full text/Total items : 57042/90725 (63%)
Visitors : 12448684      Online Users : 224
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/105172

    Title: 主動式基金與被動式基金在市場多空頭時績效的差異性研究
    Other Titles: The performance comparisons between active management funds and passive management funds under the Bull and Bear Market sentiments
    Authors: 黃國智;Huang, Kuo-Chin
    Contributors: 淡江大學國際企業學系碩士在職專班
    Keywords: 主動式基金;被動式基金;理柏(Lipper);國家發展委員會景氣對策燈號;T檢定;Active Funds;Passive Funds;Lipper;National Development Council Prosperity Lights;T- test
    Date: 2015
    Issue Date: 2016-01-22 14:49:31 (UTC+8)
    Abstract: 本論文研究探討國內股票型基金與被動式基金(ETF)在多頭與空頭時期下,基金績效的差異性研究,研究範圍為2003/6/30到2014/4/30期間。主動式基金研究樣本為2013年理柏(Lipper)台灣台股基金獎最佳三年期、十年期基金得獎基金,1.德盛台灣大壩證券投資信託基金(三年期)、2.野村中小(原名:安泰ING中小)證券投資信託基金(三年期&十年期)、3.統一大滿貫證券投資信託基金(十年期)。被動式基金則是以台灣第一支ETF元大寶來台灣卓越50基金股票代號0050、元大寶來台灣中型100基金股票代號0051、永豐臺灣加權ETF證券投資信託基金股票代號006204為研究樣本。
    This study is aiming to investigate the performance domestic equity funds and passive funds (ETF) in Bull and Bear Market, from 2003/6/30 to 2014/4/30 The study samples of 2013 active funds according to Lipper Taiwan TAIEX Foundation Prize for the best three-year, ten-year awarded fund, We selected 1. Dresdner Taiwan dam securities investment trust fund (three-year), 2. Nomura Small (formerly: ING Aetna Small) securities investment trust fund (triennial & decade), 3. unification major securities investment trust fund (the Decade) as the most representing active funds. Passive fund is based on Taiwan''s first ETF Yuan Polaris Taiwan Top 50 fund which has ticker symbol 0050, Yuan 100 medium-sized fund Polaris Taiwan stock with the code of 0051, Yongfeng Taiwan Weighted ETF Securities Investment Trust stock with the code of 006204 for the study samples.
    The National Committee for Depelopment has published the Prosperity, Baseing on high and low points, we have divided into nine cyclical indicators interval during the study period The average difference between two different funds were analyzed by. statistical data analysis and T- test.
    The empirical results show:
    1. Comparing the performance differences between the 3 representing active funds and 3 passive funds in the market during the research period, we found that under the single-tailed or two-tailed test, passive investment strategies (ETF) investment performance are not fully proved superior or inferior to the performance of active investment funds, but there is still a certain degree of correlation.
    2. The performance resulted from the majority of the study samples in the same period shows high-risk did not directly lead to higher return.On contrary low-risk funds had better performance in some ovserving periods.
    Appears in Collections:[Graduate Institute & Department of International Business] Thesis

    Files in This Item:

    File Description SizeFormat

    All items in 機構典藏 are protected by copyright, with all rights reserved.

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback