The Influence of Sentiments on the Announcement Effect of Cash Capital Reduction
碩士 === 國立臺中科技大學 === 財務金融研究所碩士班 === 104 === This paper studies the announcement effects of Cash Capital Reduction on the stock price of listed firms in Taiwan from 2005 to 2014. The empirical results show that there is positive CAR during the narrow announcement window. Then, CAR is regressed to fi...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2016
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| Online Access: | http://ndltd.ncl.edu.tw/handle/e6p9c5 |
| Summary: | 碩士 === 國立臺中科技大學 === 財務金融研究所碩士班 === 104 === This paper studies the announcement effects of Cash Capital Reduction on the stock price of listed firms in Taiwan from 2005 to 2014. The empirical results show that there is positive CAR during the narrow announcement window. Then, CAR is regressed to firm characteristic variables. Market situation and investor sentiment variables are also included in the model. The empirical results show that there exist significant announcement effects in the full sample and listed companies; while do not exist in the OTC sample.
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