本研究嘗試以事件研究法，探討台灣上市電子類公司有無因董監改選召開股東常會而暫停信用交易，對於股票報酬率的影響型態，以作為投資決策之參據。研究期間為2008、2009及2010年，樣本頻率為日股價報酬率。由實證結果得知，不論有無董監改選，於暫停信用交易期間，股價均呈現異常報酬型態，經分類發現，有董監改選之樣本，資本額以及融資對異常報酬率都會有負向的影響，週轉率對異常報酬率會有正向影響，且超過一週以後，對於異常報酬率不會變成負向影響；無董監改選之樣本，融資額度在事件期間會對異常報酬率有負面的影響，而資本額及週轉率在短期是正向影響，但是週轉率到了事件後一週以後，就會對異常報酬率有負面的影響。 This paper investigates the impact of stopping the margin trading for electing of board during regular meeting on stock return by using listed electronics firms in Taiwan. Using the daily return from 2008 to 2010, our result can be summarized as follow: first, the stock returns are abnormal whether the firms re-elect or not. Second, the impact margin ratio on abnormal return is negative, and the turnover ratio is positive. Third, the impact of capital is negative to re-elected firms and positive to non-elected firms. Fourth, one week after event date, the turnover ratio would be negative to non-elected firm but still positive to re-elected firms.
