English  |  正體中文  |  简体中文  |  Items with full text/Total items : 51510/86705 (59%)
Visitors : 8264747      Online Users : 75
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/987654321/31686

    Title: 香港H股與中國A股上市影響比較
    Other Titles: Influence and comparisons between company's IPOs in Hong Kong H-Shares market and in China A-Shares market
    Authors: 許靜枝;Hsu, Ching-chih
    Contributors: 淡江大學財務金融學系碩士在職專班
    林允永;Lin, Yun-yung;李進生;Lee, Chin-shen
    Keywords: 事件研究法;Incident Study
    Date: 2009
    Issue Date: 2010-01-11 01:08:10 (UTC+8)
    Abstract: 本研究係探討中國企業於A股及香港H股兩地均上市公司,上市後蜜月期、短、中期股價報酬率分析,何者較具優勢。研究期間為1999年4月1日起至2008年6月30日止,於香港H股上市且亦於中國A股已上市之企業為研究對象。運用事件研究法,檢視H股或A股股價報酬何者較具優勢,提供籌資者與投資者做為投資參考,實證結果如下:
    This study investigate the Chinese industry in the A-share and Hong Kong H-share listed companies of two places, which one have the advantage after stock price rate of returns analysis during the market honeymoon, short-term, and long-term. The study was from April 1, 1999 until June 30, 2008 with industry that had listed on Hong Kong H-share and been also already listed in the Chinese A-share was the research object.
    Use the Incident Study, it relatively has the advantage that what look over H-shares or the A-share stock price remuneration, and offers fund-raiser and investor to do it for the investment reference. The result is as follows:
    First, according to our company IPO analysis for short, middle, and long-term stock price rate of returns, the result of study finds, the short-term remuneration A-share has advantages, but the long-term remuneration H-share has advantage that remuneration grows up steadily.
    Second, industries comparison: after analyze with the rate of increase of the long-term remuneration, the result shows, Hong Kong investors relatively have a partiality for the banking insurance of stock. China investors relatively have a partiality for the transportation of stock.
    Third, the sample hosts distributors are famous securities company. The reputations of famous securities company and investors’ trust have correlation with each other.
    Fourth, the sample like main index composition stock, representing its trading volume and stock price and market index becomes positive correlation, so the composition stock is often investor''s first-selected target.
    Fifth, the sample is listed on A-share is mostly after the 2005.August. RMB began to appreciate to the exchange rate of U.S. dollar at that time, external investors channeled into the fund successively, and domestic idle fund was plentiful. China security market began to have good market period. During the research, the positive remuneration of the stock price is obvious.
    Sixth, during SARS epidemic situation, the annual rate of returns shows the negative number, the rate of returns replies the normal level while striding.This result shows, when the special incident happens, the stock price certainly will be influenced, but the incident will go over eventually. A short-term will exert an influence to remuneration; however, it can come back normal remuneration in a long-term.
    Appears in Collections:[財務金融學系暨研究所] 學位論文

    Files in This Item:

    File 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