| Summary: | 碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 94 === This study adopts the Logistic Regression to analyze the factors that influence the purposes of stock repurchases in Taiwan''s listed companies from Aug. 7, 2000 to Dec. 31, 2004. The study is focused on electronics and non-electronics industries on annual basis. The results are as follows: in the whole period, the companies which are undervalued seriously and with low debt ratio will repurchase stock with the purpose “to conserve the credit of the firm and the rights of stockholders.” Considering the overall stock market, we find that when stock market is bear, the companies which are undervalued will repurchase stock with the purpose “to conserve the credit of the firm and the rights of stockholders.” The electronic companies with high total asset and high free cash and the non-electronic companies with low debt ratio have the same results.
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