Empirical Analysis of Listed Companies'' Cash Dividends inTaiwan

• Main Authors: Ming-Ya You, 游明雅
• Other Authors: Luke Lin
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/65652918058856610824

碩士 === 國立高雄第一科技大學 === 財務管理研究所 === 101 === 　　This paper’s mainly discusses Taiwanese listed companies which gave out cash dividend from 1990 to 2012. My research tries to find out whether investment performance on cash dividend given companies is better than investing on Bank Time Deposit, TAIEX, or companies that do not award cash dividend. At a low interest rate era, I attempt to find an alternative investment opportunity for risk-averse investors by proving the feasibility of investing on stocks with regular stream of income. This study was approved by the poor population mean pair-wise statistical inference, found that: 1.Both the length of time investment, interest rate is high or low, it is not different to invest in the stock market or deposit in banks. 2.To invest the returns on listed company from 1990 to 2012 is not different. 3.Finally, reward result is no different to invest TWSE or TAIEX. 　　Although Taiwan''s interest rate is down, the low rate of return in a short time is unacceptable, but compare to the largest stock market for a long time investment, the returns and the stock market is almost the same. The investment stable dividend company, the rate of return is not significant. If TWSE represent stable dividend terms, the result is no different in investing TWSE or TAIEX.