Information Disclosure, Stock Return, and Trading Strategies
碩士 === 輔仁大學 === 金融與國際企業學系金融碩士班 === 99 === Although public traded company in Taiwan at this stage open information system had been exposed getting complete, but the investors received more information from the backward message on the website, not as shares of the leading indicators of return. Inves...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2011
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| Online Access: | http://ndltd.ncl.edu.tw/handle/95516962639052025216 |
| Summary: | 碩士 === 輔仁大學 === 金融與國際企業學系金融碩士班 === 99 === Although public traded company in Taiwan at this stage open information system had been exposed getting complete, but the investors received more information from the backward message on the website, not as shares of the leading indicators of return. Investors can not understand the impact of released information for stocks. So investors usually lose their money.
Therefore the goal of this study mainly investigates the changes of the stock price in the event study of market model when the company released the information. Observation period is used to calculate Cumulative Abnormal Returns and make trading strategy. According the result in observation period ,buying or selling the stocks in the empirical period. Whether the empirical result can earn the Abnormal Returns or not in the short term. The information this study discusses are capital reduction 、capital increasing 、repurchase treasury stock、issue convertible bonds、accede MSCI index and eliminate MSCI index.
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