Is Predictable index of Taiwan Depositary Receipts?
碩士 === 朝陽科技大學 === 財務金融系碩士班 === 100 === Taiwan Depository Receipts (Taiwan depositary receipt, TDR) in recent years to become the new focus of investment for investors, but since listed, after a brief honeymoon market, the share prices will be all the way to the bottom, this paper investigates why th...
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ndltd-TW-100CYUT53040502019-05-15T20:43:22Z http://ndltd.ncl.edu.tw/handle/xbhu8n Is Predictable index of Taiwan Depositary Receipts? 台灣存託憑證股價是可預測嗎? Yi-Hsiu Lin 林逸修 碩士 朝陽科技大學 財務金融系碩士班 100 Taiwan Depository Receipts (Taiwan depositary receipt, TDR) in recent years to become the new focus of investment for investors, but since listed, after a brief honeymoon market, the share prices will be all the way to the bottom, this paper investigates why the Government and the Securities and vigorously promoteTaiwan depositary receipts, but not allow investors to get compensation, and even let investors lose miserable end. May be used when the general investing public to invest in a variety of investment analysis methods, in order to obtain compensation. TDR''s current situation but found that the stock is uncertain, should the share price of the TDR can not be predicted? Therefore, this article for the January 1, 2009 to November 2011 the 30-day foreign enterprises in Taiwan issued Taiwan depositary receipts, as the study sample to explore the foreign enterprises to issue depositary shares predictable, through the efficient market The hypothesis to test, for investors during the Taiwan Depositary Receipts investment analysis more a reference factors as the analysis and judgment. In the present study, using the PP test method, testing whether the market in line with the weak form efficient market hypothesis. The empirical results show that the differential original series the vast majority are in compliance with the weak form efficient market hypothesis, that is, most of TDR use historical information to investment reference, you can not get the excess return. Jian-Shen Chen 陳建勝 2012 學位論文 ; thesis 38 zh-TW |
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碩士 === 朝陽科技大學 === 財務金融系碩士班 === 100 === Taiwan Depository Receipts (Taiwan depositary receipt, TDR) in recent years to become the new focus of investment for investors, but since listed, after a brief honeymoon market, the share prices will be all the way to the bottom, this paper investigates why the Government and the Securities and vigorously promoteTaiwan depositary receipts, but not allow investors to get compensation, and even let investors lose miserable end. May be used when the general investing public to invest in a variety of investment analysis methods, in order to obtain compensation. TDR''s current situation but found that the stock is uncertain, should the share price of the TDR can not be predicted? Therefore, this article for the January 1, 2009 to November 2011 the 30-day foreign enterprises in Taiwan issued Taiwan depositary receipts, as the study sample to explore the foreign enterprises to issue depositary shares predictable, through the efficient market The hypothesis to test, for investors during the Taiwan Depositary Receipts investment analysis more a reference factors as the analysis and judgment.
In the present study, using the PP test method, testing whether the market in line with the weak form efficient market hypothesis. The empirical results show that the differential original series the vast majority are in compliance with the weak form efficient market hypothesis, that is, most of TDR use historical information to investment reference, you can not get the excess return.
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author2 |
Jian-Shen Chen |
author_facet |
Jian-Shen Chen Yi-Hsiu Lin 林逸修 |
author |
Yi-Hsiu Lin 林逸修 |
spellingShingle |
Yi-Hsiu Lin 林逸修 Is Predictable index of Taiwan Depositary Receipts? |
author_sort |
Yi-Hsiu Lin |
title |
Is Predictable index of Taiwan Depositary Receipts? |
title_short |
Is Predictable index of Taiwan Depositary Receipts? |
title_full |
Is Predictable index of Taiwan Depositary Receipts? |
title_fullStr |
Is Predictable index of Taiwan Depositary Receipts? |
title_full_unstemmed |
Is Predictable index of Taiwan Depositary Receipts? |
title_sort |
is predictable index of taiwan depositary receipts? |
publishDate |
2012 |
url |
http://ndltd.ncl.edu.tw/handle/xbhu8n |
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