A Study on the Relationship between Price-Book Ratio and Stock Repurchase Announcement Effects for Taiwan Listed Companies
碩士 === 國立交通大學 === 管理學院財務金融學程 === 104 === This study examines the correlation between treasury stock announcement effects and Price-Book Ratio in Taiwan Listed Companies. The sampling period is from 2009 to 2014 with a hundred and fifteen companies are involved. Using the sign test for empirical stud...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2016
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| Online Access: | http://ndltd.ncl.edu.tw/handle/68107674448303262859 |
| Summary: | 碩士 === 國立交通大學 === 管理學院財務金融學程 === 104 === This study examines the correlation between treasury stock announcement effects and Price-Book Ratio in Taiwan Listed Companies. The sampling period is from 2009 to 2014 with a hundred and fifteen companies are involved.
Using the sign test for empirical study, the empirical results show that:
(i) There is positive market response and price effect after treasury stock announcement
(ii) There is no significant correlation between treasury stock announcement effects and Price-Book Ratio in Taiwan Listed Companies
(iii) Announcement effect of treasury stock is significant positive among those companies with lower PBR, large-cap and higher implementation rate.
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