The Relationship Between the Market Reactions and the Percentage of Shares Repurchasing Announcement for the Listed Electronic Companies in Taiwan
碩士 === 國立交通大學 === 管理學院管理科學學程 === 105 === Since June 1, 2015, the Taiwan Financial commission has relaxed the stock price fluctuation limits from 7% to 10% for the purposes of increasing the efficiency of the stock market and convergence with international standards. Referred to the former researches...
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ndltd-TW-105NCTU54570312019-05-16T00:08:09Z http://ndltd.ncl.edu.tw/handle/3n43z7 The Relationship Between the Market Reactions and the Percentage of Shares Repurchasing Announcement for the Listed Electronic Companies in Taiwan 台灣電子產業上市公司庫藏股買回宣告對股價反應與庫藏股買回量之關聯性研究 Chen, Shu-Hui 陳舒慧 碩士 國立交通大學 管理學院管理科學學程 105 Since June 1, 2015, the Taiwan Financial commission has relaxed the stock price fluctuation limits from 7% to 10% for the purposes of increasing the efficiency of the stock market and convergence with international standards. Referred to the former researches about share repurchases which almost focus on the entire industries and literature of specific industry are few. Therefore, the study focuses on Taiwanese electronic industry facing the stock market downturn after Taiwan government to relaxes the stock price fluctuation limits and contributes the effect about announcements of share repurchases. In this study, we test a sample of announcements of the Taiwanese electronic companies’ share repurchases during the period from June 1, 2015 to December 31, 2016. The event study approach is employed to examine the abnormal return to a company’s announcement of share repurchases. Our empirical results found a significantly positive abnormal return after share repurchase announcement. After verifying it through the ANOVA model, we found the announcement effect is greater for the sample companies which have higher volume of share repurchase. Tsai, Bi-Huei 蔡璧徽 2017 學位論文 ; thesis 65 zh-TW |
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碩士 === 國立交通大學 === 管理學院管理科學學程 === 105 === Since June 1, 2015, the Taiwan Financial commission has relaxed the stock price fluctuation limits from 7% to 10% for the purposes of increasing the efficiency of the stock market and convergence with international standards. Referred to the former researches about share repurchases which almost focus on the entire industries and literature of specific industry are few. Therefore, the study focuses on Taiwanese electronic industry facing the stock market downturn after Taiwan government to relaxes the stock price fluctuation limits and contributes the effect about announcements of share repurchases.
In this study, we test a sample of announcements of the Taiwanese electronic companies’ share repurchases during the period from June 1, 2015 to December 31, 2016. The event study approach is employed to examine the abnormal return to a company’s announcement of share repurchases. Our empirical results found a significantly positive abnormal return after share repurchase announcement. After verifying it through the ANOVA model, we found the announcement effect is greater for the sample companies which have higher volume of share repurchase.
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author2 |
Tsai, Bi-Huei |
author_facet |
Tsai, Bi-Huei Chen, Shu-Hui 陳舒慧 |
author |
Chen, Shu-Hui 陳舒慧 |
spellingShingle |
Chen, Shu-Hui 陳舒慧 The Relationship Between the Market Reactions and the Percentage of Shares Repurchasing Announcement for the Listed Electronic Companies in Taiwan |
author_sort |
Chen, Shu-Hui |
title |
The Relationship Between the Market Reactions and the Percentage of Shares Repurchasing Announcement for the Listed Electronic Companies in Taiwan |
title_short |
The Relationship Between the Market Reactions and the Percentage of Shares Repurchasing Announcement for the Listed Electronic Companies in Taiwan |
title_full |
The Relationship Between the Market Reactions and the Percentage of Shares Repurchasing Announcement for the Listed Electronic Companies in Taiwan |
title_fullStr |
The Relationship Between the Market Reactions and the Percentage of Shares Repurchasing Announcement for the Listed Electronic Companies in Taiwan |
title_full_unstemmed |
The Relationship Between the Market Reactions and the Percentage of Shares Repurchasing Announcement for the Listed Electronic Companies in Taiwan |
title_sort |
relationship between the market reactions and the percentage of shares repurchasing announcement for the listed electronic companies in taiwan |
publishDate |
2017 |
url |
http://ndltd.ncl.edu.tw/handle/3n43z7 |
work_keys_str_mv |
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