:::

詳目顯示

回上一頁
題名:金融產業會計資訊與股價關聯性研究
書刊名:管理實務與理論研究
作者:陳正芳李素惠
作者(外文):Chen, Cheng-fangLi, Suh-huey
出版日期:2012
卷期:6:3
頁次:頁27-41
主題關鍵詞:盈餘淨值股利股價DividendBook valueEarningsStock price
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(0) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:0
  • 共同引用共同引用:11
  • 點閱點閱:33
臺灣於1990年開放新銀行設立,金融機構從寡佔市場進入自由競爭產業。本文探討:金融產業從2002年至2010年間股價的趨勢演變,研究發現:在樣本期間,金融產業的年度平均股價在30元以下居多。2001年臺灣通過「金融控股公司法」,充許金融產業以金融控股公司形式進行跨業經營。金融業成立金控公司後股價是否較具價格競爭性呢?本文檢定發現:在樣本期間,金控公司的年度股價顯著高於非金控公司。顯示,金融業成立金控公司其股價較有優勢。此外,透過多元迴歸探討盈餘、股利、淨值資訊及產業別對金融產業股價之影響性是如何?實證結果發現:股利、淨值、盈餘及成立金控公司與股價呈正相關。另將樣本依正盈餘、負盈餘兩組作檢測。結果發現:成立金控公司及股利發放金額多寡這兩大因素,對金融產業正盈餘公司的股價變動影響最大,而淨值則是負盈餘公司股價評估的攸關資訊。
The establishment of new banks opened in Taiwan in 1990 after. The financial industry is from the oligopoly market into a complete competitive market. This paper discusses: the evolution of stock price trends in the financial industry from 2002 to 2010. The result found: the average annual stock price of the most financial industry is less than 30 dollars during the sample period. Taiwan's legislature promulgated the "Financial Holding Company Law" in 2001, the financial holding company forms of cross-industry business in the financial industry. Since the establishment of financial holding companies, the stock prices of the financial industry- financial holding companies are relatively competitive? This paper uses t-test, test whether the annual average price is significant difference in the financial industry- financial holding companies and non-financial holding companies. The result finds that financial holding companies's stock price is higher than the non-financial holding companies'. In addition, this study uses multiple regression models to explore the relationship among earnings, book value, dividends, industry and stock prices .The empirical results: dividend, book value, earnings and industry is positively correlated with stock price. This paper confirmed: dividend, book value, earnings affect stock price .The establishment of financial holding companies is a key factor in stock price changes. Further study classified the sample as surplus and negative earnings to explore the relationship among earnings, book value, dividends, industry and stock prices. The results showed that: if it is a financial holding company and the dividend amounts will affect the stock prices of the financial companies that have better operating performance. On the contrary, the book value is key factor of the financial companies which performed poorly.
期刊論文
1.Akhigbe, A.、Madura, J.(1996)。Dividend policy and corporate performance。Journal of Business Finance & Accounting,23(9/10),1267-1287。  new window
2.Mitton, T.(2004)。Corporate governance and dividend policy in emerging markets。Emerging Markets Review,5(4),409-426。  new window
3.Brown, Stephen、Lo, Kin、Lys, Thomas(1999)。Use of R2 in Accounting Research: Measuring Changes in Value Relevance over the Last Four Decades。Journal of Accounting & Economics,28(2),83-115。  new window
4.Fama, Eugene F.、French, Kenneth R.(2001)。Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay?。Journal of Financial Economics,60(1),3-43。  new window
5.Ohlson, James A.(1995)。Earnings, Book Values, and Dividends in Equity Valuation。Contemporary Accounting Research,11(2),661-687。  new window
6.李秀鑾(2001)。臺灣金融控股公司多角化經營與綜合績效關連性之探討。今日合庫,37(4),83-114。  延伸查詢new window
7.Barth, M. E.、Clement, M. B.、Foster, G.、Kasznik, R.(1998)。Brands value and capital market valuation。Review of Accounting Studies,3,41-68。  new window
研究報告
1.Hand, J. R. M.、Landsman, W. R.(1999)。The Pricing of Dividends in Equity Valuation。The University of North Carolina at Chapel Hill。  new window
學位論文
1.顏敏婷(2005)。股利發放與企業價值之研究(碩士論文)。中國文化大學。  延伸查詢new window
2.闕河士(1996)。股票股利信號發射模式與宣告效果之研究(博士論文)。國立政治大學。new window  延伸查詢new window
3.黃正誠(1999)。負盈餘研究--以資訊觀點與衡量觀點分析(碩士論文)。國立臺灣大學。  延伸查詢new window
4.陳沂爭(2001)。負盈餘公司評價之問題(碩士論文)。輔仁大學。  延伸查詢new window
5.楊淑萍(2002)。企業財務健全度影響盈餘與帳面價值在評價模式中相對重要性之研究(碩士論文)。國立成功大學。  延伸查詢new window
6.周玉珊(2005)。股利與股價關連性的研究(碩士論文)。淡江大學。  延伸查詢new window
7.張君玉(2003)。負盈餘資訊內涵-以負盈餘持續性觀之(碩士論文)。國立臺北大學。  延伸查詢new window
8.黃婷瑜(2002)。會計資訊與股價關聯性研究-成長型與價值型公司之比較(碩士論文)。淡江大學。  延伸查詢new window
9.周家卉(2008)。臺灣上市公司現金股利政策之決定因素探討(碩士論文)。國立臺灣大學。  延伸查詢new window
10.林毅明(2000)。臺灣公司股利政策與股價之關聯性(碩士論文)。國立中正大學。  延伸查詢new window
圖書
1.Neter, J. W.、Wasserman, W.、Kutuner, L.(1990)。Applied Linear Statistical Model。Homewood:Irwin。  new window
 
 
 
 
第一頁 上一頁 下一頁 最後一頁 top
:::
無相關書籍
 
無相關著作
 
QR Code
QRCODE