Comparison of the Effect of Net Buy-Sell Position of Foreign Investor on the Stock Prices of Apple and HTC after IPO of iPhone5

• Main Authors: Meng-Tse Tsai, 蔡孟哲
• Other Authors: Chieh-Chung Nieh
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/11629095576470892990

碩士 === 淡江大學 === 財務金融學系碩士班 === 101 === This study is based on the trading of foreign investors in stocks over the amount to be interpreted as a threshold variable, the other control variables are Taiwan Weighted Stock Index, crossover the leading stock price and shares of foreign ownership of the concept stock.Explore whether the effect is nonlinear between the concept stocks of iPhone5 and HTC by the trading over of iPhone5 stocks of foreign investors after the listing of iPhone5. First, on the research methods ,the sample data of the paper do the unit root test whether the steady state test data information , LLC tests ,IPS test and ADF-Fisher test used in this study, then using Smooth Transition AutoRegression proposed by Gonza''lez, Terasvirta and van Dijk , to explore foreign stocks trading on the amount over、Taiwan weighted Stock Index、crossover leading stocks and shares of foreign ownership of concept stocks of HTC and iPhone5 whether stocks of non-linear effects discussed in the difference of the conversion variable model.