| Summary: | 碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 97 === This study examines the treasury stock announcement effects on short-term stock returns in Taiwan electronic industry. The sampling period is from January 1 2005 to December 31 2007 with a total of one hundred fifty two companies involved. Using the market model of event study method, we find some positive/negative relationships existing among abnormal returns, capitalization, market value and price to book worthy. In addition, abnormal returns are also related to overall business conditions, repurchasing purposes/frequencies, actual implementation degrees, and implementation number of times. It appears stock repurchase announcement effects are purely revelations of firm characteristics, which is beneficial to potential investors.
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