| Summary: | 碩士 === 義守大學 === 財務金融學系碩士班 === 99 === In terms of the company and investors, abnormal returns are often associated with changes in management and decision making authority relating to the evaluation of marketing, so when the company management of major financial & accounting policy when different measures, the impact of stock price abnormal returns will change to some extent, this paper use Taiwan and Shanghai stock exchange data date from June 2005 to June 2010, and use Pearson''s product-moment correlation coefficient and multiple regression model of variables related to the stock situation abnormal return, the empirical findings of the Taiwan stock market abnormal returns and insider ownership change rate is negative correlation, with the dividend yield is positive correlation, In mainland China, with the dividend yield, the total debt ratio was positive correlation with short-term debt ratio, long-term debt ratio was negative correlation. It also shows that cross-strait market in addition to the difference in the market for listed companies outside the norms, more subject to different market investor characteristics, also cause the results of this paper.
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