Price and Financial Score of Investment Portfolios---The Evidence on Tzu-Ling Chang’s Software

• Main Authors: CHOU, HSIANG-HSU, 周鄉絮
• Other Authors: CHANG, KUO-KANG
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/94c7hd

碩士 === 國立屏東大學 === 應用數學系碩士班 === 105 === There are many investment strategies in the stock market and the most important issue is how to profit. Along of progressive technology made stock analysis faster and produced a lot of investment software. This study used Tzu-Ling Chang’s investment software to form six investment portfolios (high scoring, intermediate scoring, low scoring, Taiwan 50, Taiwan mid-cap 100 and small-cap).In this research used statistical test to investigate six investment portfolios’ performance whether batter than TAIEX, Taiwan 50 index and Taiwan mid-cap 100 index .And to investigate financial score and scale whether exist effect in the stock market. There are thee research result: first, considering the investment portfolios’ performance, the return of high scoring investment portfolio, intermediate scoring investment portfolio, low scoring investment portfolio and small-cap investment portfolio are better than the return of TAIEX, the return of Taiwan 50 investment portfolio is better than the return of Taiwan 50 index and the return of Taiwan mid-cap 100 investment portfolio is better than the return of Taiwan mid-cap 100 index. Second, financial scoring effect does not exist because the return of low scoring investment portfolio is better than the return of high scoring investment portfolio, intermediate scoring investment portfolio and high scoring investment portfolio are not so obvious, intermediate scoring investment portfolio and low scoring investment portfolio are not so obvious. Third, scale effect does not exist because the return of Taiwan 50 investment portfolio is better than the return of small-cap investment portfolio, Taiwan mid-cap 100 investment portfolio and Taiwan 50 investment portfolio are not so obvious, Taiwan mid-cap 100 investment portfolio and small-cap investment portfolio are not so obvious.