| Summary: | 碩士 === 國立交通大學 === 管理學院管理科學學程 === 102 === After adjustments, Economic Value Added (EVA) can improve some portions which are distorted of financial report under R.O.C. GAAP and show a company’s real value. TSMC is an example of this thesis. The purpose of the thesis is to research the relations between EVA &; Marketing Value Added (MVA) and financial ratios and also use regression analysis to research the predictable ability of stock price. Hope the thesis can build up a predictable model of stock price for investor’s reference.
The results of the thesis are summarized as follows:
1.Financial ratios have lower explanation performance for stock price. However, EVA and MVA have proper explanation performance for stock price.
2.By using the view of the accuracy of predictable model, EVA has the highest predictable ability for stock price and financial ratios have the lowest.
3.By using the view of the correlation of predictable model, MVA has the highest coefficient of determination (R2) and financial ratios have the lowest.
4.Owner or high level managers can look inside and develop a company’s competition, even raise the company’s performance and stock price.
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