南華大學機構典藏系統:Item 987654321/18045
English  |  正體中文  |  简体中文  |  全文筆數/總筆數 : 18278/19583 (93%)
造訪人次 : 947648      線上人數 : 679
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜尋範圍 查詢小技巧：
  • 您可在西文檢索詞彙前後加上"雙引號"，以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋，建議至進階搜尋限定作者欄位，可獲得較完整資料
    •  進階搜尋


    請使用永久網址來引用或連結此文件: http://nhuir.nhu.edu.tw/handle/987654321/18045


    題名: 奢侈稅對於台灣營建股股價之影響－以事件研究法論之
    其他題名: Investigation of the Effect of Luxury Tax on Construction Stock Returns of Taiwan by Event Study
    作者: 周自強
    Zhou, Zi-jiang
    貢獻者: 財務金融學系財務管理碩士班
    張瑞真
    Jui-chen Chang
    關鍵詞: 異常報酬;事件研究法;奢侈稅
    Event Study;Luxury Tax;Abnormal Returns
    日期: 2012
    上傳時間: 2015-01-08 09:05:56 (UTC+8)
    摘要: 　　本研究以政府課徵奢侈稅為例，採用事件研究法，以民國100年6月1日為事件日，取台灣上市營建股股價日資料，探討政府課徵奢侈稅對於營建股股價之影響。其研究結果顯示，奢侈稅之課徵，對於營建股股價，有負的累計異常報酬之影響(-1.0347%)，於事件日中，太子(2511)有最大正累計異常報酬(14.9936%)；京城(2524)有最大之累計負異常報酬(-8.9120)，38個研究樣本於事件期中，有23家有負的異常酬，15家有正的異常報酬，負報酬機率60.5%。此外，本研究分析異常報酬的成因中顯示，於政府課徵偖侈稅之事件期中，外資買賣超、外資持股率，對於累計異常報酬，分別有5%及1％之正向顯著水準，其代表外資的進出，仍是主導營建股漲跌的主因；而融資餘額、融券餘額，對於累計異常報酬，則分別達到1％及10％之負向顯著水準，其代表散戶的進出，反倒對股價造成一個反向效果。
    　　This thesis collected data from the stock price of Taiwan's listed construction stocks in June 1, 2012, as the event date, to analyze the impact of government levied luxury tax on the price of construction stocks by using an event study methodology. The result shows that the luxury tax gave a negative cumulative abnormal returns to the construction stocks (-1.0347%). In the event date, the Prince(2511) had a maximum positive cumulative abnormal returns (14.9936%) and the Kings (2524) had a maximum negative cumulative abnormal returns (-8.9120%), respectively. There are total of 38 samples in this event, the abnormal returns of 23 companies were negative, while those of another 15 companies were positive, and the probability of negative returns was 60.5%. Analysis of the abnormal returns on government levied luxury tax, the effect of the foreign capital buys and sells and the foreign ownership rate on the cumulative abnormal returns showed 5% and 1% positive significant levels, respectively. This result showed that the foreign institutional investors were the main reason of the ups and downs of construction stock price. On the other hand, the effect of financing balance and margin balance on the cumulative abnormal returns showed 1% and 10% negative significant levels, respectively. This result showed that the angel investors present a reverse effect on stock prices.
    顯示於類別:[財務金融學系(財務管理碩士班)] 博碩士論文

    文件中的檔案:

    檔案 描述 大小格式瀏覽次數
    100NHU05304008-001.pdf437KbAdobe PDF145檢視/開啟
    index.html0KbHTML270檢視/開啟


    在NHUIR中所有的資料項目都受到原著作權保護.

    TAIR相關文章

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回饋