政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/86440

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 112721/143689 (78%)
Visitors : 49637386 Online Users : 497

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 > Item 140.119/86440

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/86440

Title:	企業評價模型有效性之實證研究 The effectiveness of valuation models - an empirical evidence
Authors:	陳奉珊 Chen, Feng-Shan
Contributors:	吳啟銘 Wu, Chi-Ming 陳奉珊 Chen, Feng-Shan
Keywords:	評價投資績效 Valuation Investment performance DCF APV
Date:	1997
Issue Date:	2016-04-27 11:21:53 (UTC+8)
Abstract:	股市起起落落，何謂真實價值，投資人如何在股海中獲取超額報酬呢？本研究採用三種評價模型-D C F 法、A P V 法以及本益比法來評估公司的真實價值，然後與市價做比較，然後與市場做比較，且分析市場價值與模型所推算出的公司價值間是否有差異性存在？若有，便根據差異程度高達 10%以上者做低買高賣的頭資，不過在文中本研究只採用買的投資行為以形成一個投資組合，同時檢視投資組合在「買入持有」半年及一年之後的投資績效，最後再與大盤及共同基金做績效比較。 This paper discusses three business valuation models, including DCF, APV and P/E ratio.The first step is computing the true value (model price) belong to the stockholder. Then compare the true value with the market price.If the difference is really large enough, form a "buy and hold" investment portfolio for half an year and one year. Finally test whether the portfolios forming base on valuation models can beat the market and most of the mutual fund. The empirical evidence is, the DCF, APV methods not only outperform the P/E ratio but also the market and the first 25% of the mutual fund.
Description:	碩士國立政治大學財務管理研究所 85357006
Source URI:	http://thesis.lib.nccu.edu.tw/record/#B2002001893
Data Type:	thesis
Appears in Collections:	[財務管理學系] 學位論文

Files in This Item:

File	Size	Format
index.html	0Kb	HTML2	278	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...