The Impact of Listing Switching From OTC to TSE on Stocks Price Behavior in Taiwan
碩士 === 雲林科技大學 === 財務金融系碩士班 === 96 === The Taiwan Stock Exchange (TSE) market is more developed than Over-the-Counter (OTC) market; This study discussed the short-term price behavior of listing change in Taiwan. The samples used in this study consisted of 169 companies from 2002 to 2007. We adopt the...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2008
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| Online Access: | http://ndltd.ncl.edu.tw/handle/29819840259550316099 |
| Summary: | 碩士 === 雲林科技大學 === 財務金融系碩士班 === 96 === The Taiwan Stock Exchange (TSE) market is more developed than Over-the-Counter (OTC) market; This study discussed the short-term price behavior of listing change in Taiwan. The samples used in this study consisted of 169 companies from 2002 to 2007. We adopt the event study method to test the AR and CAR of the short-term price behavior. The observed results are summarized as followings: There are no apparent evidences to prove positive AR or CAR in the short-term trend. The phenomenon of hot-month effect, for listing change doesn’t exist. In the real world, the abnormal return of listing change from OTC to TSE market is not existent to the investors.
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