| Summary: | 碩士 === 淡江大學 === 管理科學研究所 === 81 === The study takes Taiwan listed stock companies as research
samples and adopts 20 cash flow ratios as research variables.
The study tries to examine: (1) Are the research variables
different between different category stocks trade on Taiwan
Stock Exchange ? (2) Are the research variables different
among industries ? (3) Are the research variables different
among different sizes ? (4) Are the research variables
different between non-failed and failed companies ? The study
collects financial data from 1989 to 1991. The methods adopted
in the study are t-test , one-way ANOVA and Wilcoxon paired
samples test. The results of the study show that: 1. The
liquidity , quality of sales , operating growth and returns of
first category stocks trade on Taiwan Stock Exchange are
superior to those of second category stocks trade on Taiwan
Stock Exchange. 2. No matter liquidity, quality of sales ,
solvency , operating growth and returns of builing & material
industry are the worst among industries. Foods industry has
the highest cash dividend coverage. The liquidity , quality of
sales , solvency, operating growth and returns of cement &
glass and plastic & chemical industries are better than those
of other industries. 3. The cash ratio of giant-size companies
is lower than small- size & large-size companies.The middle-
size companies have the best quality of EBIT than other size
companies. 4. No matter liquidity , quality of sales, quality
of net income , solvency, operating growth and returns of non-
failed companies are superior to those of failed companies.
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