A Study on the Influences of the Stock Return's Rate Caused by Suspending Margin Trading for General Shareholder's Meeting of the Electronic Corporations In Taiwan
碩士 === 南華大學 === 財務管理研究所 === 94 === The purpose of this study is to investigates the influences of the stock returns caused by suspending margin trading base on Article 38 of Fu-hwa Securities Finance Company''s law of margin-buy and short-sell and Article 165 of Company Law. Specificall...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2006
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| Online Access: | http://ndltd.ncl.edu.tw/handle/48254294446908817744 |
| Summary: | 碩士 === 南華大學 === 財務管理研究所 === 94 === The purpose of this study is to investigates the influences of the stock returns caused by suspending margin trading base on Article 38 of Fu-hwa Securities Finance Company''s law of margin-buy and short-sell and Article 165 of Company Law. Specifically, margin trading data of the listed electronic companies in Taiwan is included from February 2002 through April 2002 and February 2003 through April 2003. Empirical results indicate that: (1)The long-term investors don''t need to adjust their portfolio while have the stocks of higher holding ratio by foreign capital and higher short selling; (2)The short-term investors will make a profit during the event of suspending margin trading while have the stocks of lower short selling; (3)The long-term investors will have chances to sell stocks for avoiding risk on the day of suspending short selling and the last repurchase while have the stocks of lower holding by foreign capital and lower margin transaction.
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