Title page for etd-0111113-151147


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URN etd-0111113-151147
Author Cheng-Yu Li
Author's Email Address No Public.
Statistics This thesis had been viewed 5341 times. Download 2674 times.
Department Business Management
Year 2012
Semester 1
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title The investment strategy for firms of Taiwan 50 exchange traded fund and listed companies based on discounted cash flow model.
Date of Defense 2012-12-21
Page Count 83
Keyword
  • net income growth rate
  • equity growth rate.
  • discounted cash flow model
  • net income after taxes
  • Abstract Based on the discounted cash flow model, this study aims to evaluate the Taiwan 50 exchange fund firms and public listed companies in Taiwan, within the time frame from 2000 to 2009. An investment strategy is resulted from getting the calculated corporate value divided by the real market value. This study seeks to know whether the strategy is valid and profitable.
    All of the required data are collected from Taiwan Economic Journal (TEJ), and this study uses the SAS program to calculate the data and do the corporate evaluation. The following are conclusion and suggestion of this study.
    One, when applying the discounted cash flow model to do the corporate evaluation, the result of cash flow will be affected by some factors, such as net income after taxes, net income growth rate, and equity growth rate.
    Two, the t test shows, within the time frame from 2000 to 2009, the investment strategy is valid in Taiwan 50 exchange fund firms, Information Service, Tourism, as well as Finance and Insurance Industry; the investment returns are 21, 54.31, 45.51 and 20.73 percent respectively.
    Advisory Committee
  • Lanfeng Kao - chair
  • Cheng-shou Lu - co-chair
  • Anlin Chen - advisor
  • Files
  • etd-0111113-151147.pdf
  • indicate access worldwide
    Date of Submission 2013-01-11

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