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    政大機構典藏 > 商學院 > 會計學系 > 學位論文 >  Item 140.119/86552
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/86552


    Title: 匯率變動對台灣上市公司營業利潤與股票異常報酬影響之實證研究
    Operating Income, Exchange Rate Changes, and Abcdrmal Stock Returns:An Empirical Analysis in Taiwan Stock Market
    Authors: 傅瑛琪
    Fu, Ying-Chi
    Contributors: 鄭丁旺
    Jen, Ding-Wang
    傅瑛琪
    Fu, Ying-Chi
    Keywords: 營業利潤
    匯率變動
    股票異常報酬
    operating income
    exchange rate changes
    abcdrmal stock returns
    Date: 1998
    Issue Date: 2016-04-27 14:05:11 (UTC+8)
    Abstract: 台灣因本身自然資源並不豐富,屬於典型的開放性海島經濟,對國際貿易依存度高。匯率是重要的影響台灣總體經濟因素。因亞洲金融風暴影響,導致台幣兌美元匯率大幅貶值。本篇論文旨在探討,自民國86年7月始,新台幣大幅貶值,此項匯率的巨幅波動(波動期)與83年7月至86年6月間(平穩期),究竟對上市公司的營業績效及上市公司的股票報酬,是否造成不同之影響。利用營業利潤受匯率變動的影響,來解釋公司的外匯風險,進一步探討匯率變動與上市公司股票異常報酬的關係。
    The purpose of this paper is to identify the categories of exposure that are most likely to effect company`s operating income and the observed association between exchange rate changes and abcdrmal stock returns. The period examined in this paper is July 1994 to December 1997. This period examined is divided .One is July 1994 to June 1997(Exchange rate changes wave is flat) and the other is July 1997 to December 1997(Exchange rate changes wave is inflectional). This paper attempts to understand the different associations among operating income exchange rate changes and abcdrmal stock returns between July 1994 to June 1997 and July 1997 to December 1997.
    Reference: 一 中文部份:
    1. 何憲章,「國際財務管理-理論與實務」,新陸書局,民國82年8月
    二版。
    2. 吳世勇,「匯率與公司營業淨利、公司股價之研究—台灣實證分
    析」,東海企業管理研究所碩士論文,民國85年6月。
    3. 林基煌,「匯率波動性對多國籍企業股價的影響」,政治大學財務管
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    5. 高蓉蓉,「匯率變動對台灣上市公司營業利潤與股票報酬影響的實証
    研究」,成功大學會計研究所碩士論文,民國86年6月。
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    7. 陳尚培,「匯率自由化後外匯風險之衡量與定價」,中正財務金融研
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    司為例」,成功大學工業管理研究所碩士論文,民國85年6月。
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    二 英文部份:
    1. Adler, M., and B. Dumas.(1984)"Exposure to Currency Risk:
    Definition and Measurement," Financial Management 13, pp.41-
    50.
    2. Aggarwal, R.(1981)"Exchange Rate and Stock Price: A Study
    of the U.S. Capital Markets Under Floating Exchange Rates,"
    Akron Business and Economic Review(Fall 1981), pp.7-12.
    3. Bartov,E. and G.M. Bodnar 1994,”Firm Valuation Earnings
    Expectations and the Exchanges Rate Exposure Effect.”
    Journal of Finance 44, pp.1755-1785.
    4. Bodnar, G. M. and Gentry, W. M.,(1993)"Exchange Rate
    Exposure and Industry Characteristics: Evidence From
    Canada, Japan and U.S.," Journal of International Money and
    Finance 12, pp.29-45.
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    Operating Exposure to Exchange Rates: A Conceptual
    Approach”, Financial Management(Spring), pp.25-36.
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    Analysis.” Journal of Accounting, Auditing & Finance (Fall
    1994), pp.703-724.
    Description: 碩士
    國立政治大學
    會計學系
    86353009
    Source URI: http://thesis.lib.nccu.edu.tw/record/#B2002001604
    Data Type: thesis
    Appears in Collections:[會計學系] 學位論文

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