The Study on the ROI of High Cash Dividend Stock Based on the Share Price Fluctuation Rate and Monthly Revenue Growth Rate -A Case Study of theListed Stocks from Taiwan Stock Exchange

• Main Authors: Mu-Yuan Tsao, 曹木原
• Other Authors: Chin-Chuan Huang
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/q4n9rd

碩士 === 銘傳大學 === 資訊管理學系碩士在職專班 === 104 === In this uncertain financial environment and high inflation economy, certificate of deposit is a stable profitable investment, but the average deposit rate only remains at 1.3%, which is an extreme low rate of return. Investors who wish to have a higher profit have to finds other investment option. Nowadays, the most popular one is stock, which was selected by high dividend. However, could these stocks recovery its right and price when Investors invest in the high dividend stocks and participate in ex- dividend? Do Investors gain the cash dividends but lose the profit from stock price? In this study, the stock data with more than 5% of cash dividend yield was collected from 2010 to 2014 as our study targets. We simulated that buy was made on the day before the ex-dividend date and then participated ex-dividend. In the meanwhile, we analyzed the relationship between share price fluctuation rate and monthly revenue growth rate during the 30 days before the ex-dividend date, and discussed the share price recovery probability and rate of return within this 30-day short period. The results demonstrated that (1) Based on analysis of annual rate of return between 2010 to 2014 year, the better ROI was found in the stocks which exhibited an increase in 30 day before ex-dividend date and showed the positive in monthly revenue growth rate; (2) According to the analysis of annual stocks recovery probability between 2010 to 2014 year, more than 50% stocks were difficult to recover to ex-dividend price within this 30-day short period in our four combination; (3) In the case of a high dividend yield, we do not recommend investors to participate in ex-dividend.