The effect of PS4 product announcement in Sony Computer Entertainment Inc

• Main Authors: Chiou, Li-Fan, 邱禮帆
• Other Authors: 楊明宗
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/10979981286059910627

碩士 === 開南大學 === 財務金融學系 === 103 === Due to flourishing of modern technology, peole are affected by all levels of lifestyle. and focus on the aspects of entertainment. The entertainment has become common life, but also a culture phenomenon. Sony Computer Entertainment (Sony Computer Entertainment Inc.) is recognized a global leader in the video game industry has introduced a new work PlayStation®4 in 2013, which dropped a bombshell in the market of game console. In this study, the objects are supply chain vendors of PS4 stocks, and the period of study is from 2012 to 2013 with stock prices. For the supply chain of Taiwan manufactures, we use the method of “Event Study” to analyze the change effects in declaration date of product by abnormal return of stock prices. The results of empirical study show the declaration date of product clearly reflects the effect of stocks of PS4 in the share prices of supply chain vendors. Moreover, before and after 30 days of product announcement, the reaction of stock prices is clear to appear, and there exists the phenomenon of early response on the effect of declaration date. Also, we apply the method of stepwise regression to establish the proper regression model on the response variable of abnormal returns. The final regression model contains the explanatory variables, which are the earnings per share, and cash flow per share.