Title page for etd-0631114-092541


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URN etd-0631114-092541
Author Li-wen Chung
Author's Email Address No Public.
Statistics This thesis had been viewed 5337 times. Download 0 times.
Department Economics
Year 2013
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title Investment Strategy -An Empirical Study of Taiwan's Stock Market
Date of Defense 2014-07-15
Page Count 46
Keyword
  • cash dividend yield
  • price/earnings ratio(P/E)
  • earnings per share(EPS)
  • return on equity(ROE)
  • investment strategy
  • price to book ratio(P/B)
  • Abstract This dissertation studies whether the investment strategy based on the method of value brings abnormal profits in Taiwan stock market. It uses the rate of return on equity(ROE), earnings per share (EPS), cash dividend yield, the price/earnings ratio (P/E), price to book ratio (P/B) and other financial indicators from 2000 to 2012 as the criteria of stock selection. It uses the financial information of the first five years as a sliding window and adjusting portfolios every year to calculate the return on the dynamic investment portfolios from 2005 to 2013 and compares them to the return of Taiwan Stock Exchange Market Index and Taiwan 50 Index. We find that using suitable stock investment strategies brings more profits than choosing not to use them. In addition, the portfolios selected by using of the price/earnings ratio (P/E) and price to book ratio (P/B),perform particularly better than Taiwan Stock Exchange Market Index returns and Taiwan 50 Index returns. The result stays the same for these two indicators when considering the cash yield rates.
    Advisory Committee
  • Ming-Jang Weng - chair
  • Yung-Nien Tung - co-chair
  • Wang-chun Jie - advisor
  • Files
  • etd-0631114-092541.pdf
  • Indicate in-campus at 99 year and off-campus access at 99 year.
    Date of Submission 2014-08-18

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