Construction of Investment Strategies of Listed and OTC Companies In Taiwan

• Main Authors: Yuan-yin Yu, 游媛尹
• Other Authors: Mingchun Lin
• Format: Others
• Language: zh-TW
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/9pmv75

碩士 === 國立高雄第一科技大學 === 風險管理與保險所 === 96 === In this research, the variables are the important financial indices of the whole Taiwan’s listed and OTC companies’ financial reports from 2004 to 2006. This research applies factor analysis, cluster analysis and analysis of variance to construct the combinations of the optimal investment models. The empirical results prove：First, the whole listed and OTC companies can be divided into three clusters, and “benefit ability,” “ability of paying debt,” “asset’s management,” “efficiency of long-term fund” these four factors are significantly different in these three clusters. Second, IC design industry can be divided into two clusters, “reward ability” and “ability of paying debt” these two factors are significantly different in these two clusters. Third, LED industry can be divided into two clusters, and “reward ability” is significantly different in these two clusters. Fourth, in the above-mentioned three models, it proves that the companies which are clustered by IC design industry and LED industry much can behave their differences. The reason to explore is that, “reward ability,”“benefit ability,” “ability of paying debt,” “asset’s management,” “efficiency of long-term fund” are not all the same in different industries. The supply and demand of the industries will decide their development foreground and benefit level. Therefore, to explore the whole Taiwan’s listed and OTC companies will not easily show the value of the optimal investment models.