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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/31680

    Title: 股利結構變動與投資績效關聯性之研究
    Other Titles: The relationship between dividend structure variations and investment performance
    Authors: 江羽襄;Chiang, Yu-hsiang
    Contributors: 淡江大學財務金融學系碩士班
    顧廣平;Ku, Kuang-ping
    Keywords: 股利政策;現金股利;股票股利;投資績效;Dividend policy;cash dividend;Stock Dividend;investment performance
    Date: 2009
    Issue Date: 2010-01-11 01:07:35 (UTC+8)
    Abstract:   本研究係以1997年至2006年期間曾放股票股利或現金股利之台灣上市上櫃公司為研究對象,運用各種不同的異常績效衡量方法與基準報酬的選取,來探討股利結構變化對公司長短期投資績效之影響。
      This article uses the different methods of the unusual performance and benchmark returns to analyze the effect of the dividend structure changing for the investment performance during the long run and short run of the Taiwan listed firms which have ever payout the stock dividend or cash dividend during the period 1997 to 2006.
      Our empirical findings are as follows: The abnormal return exists in the short-term after the changing of dividend structure of Taiwan listed firms, and most of the investors have commended about the dividend decision. In the three kinds of event date, especially on ex-dividend day, the investors will adjust their holding substantially; moreover, the stockholders’ meeting authorized date are more significant than the approval date of the board meetings. The empirical shows that the dividend policy will result in positive response of price after the stockholders’ meeting authorized.
      The long run empirical results indicate no significantly unusual performances, and the market efficiency hypothesis holds on the market.
    Appears in Collections:[財務金融學系暨研究所] 學位論文

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