政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/87491

政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/87491

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | 全文笔数/总笔数 : 110941/141868 (78%)
造访人次 : 47451674 在线人数 : 1350

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

搜寻范围

查询小技巧：

您可在西文检索词汇前后加上"双引号"，以获取较精准的检索结果

若欲以作者姓名搜寻，建议至进阶搜寻限定作者字段，可获得较完整数据

进阶搜寻

主页 ‧ 登入 ‧ 上传 ‧ 说明 ‧ 关于政大典藏 ‧ 管理

到手机版

政大機構典藏 > 商學院 > 國際經營與貿易學系 > 學位論文 > Item 140.119/87491

请使用永久网址来引用或连结此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/87491

题名:	漲跌幅限制下股價行為與財務指標受扭曲程度之研究 The Impacts of Stock Price Limits on Security Price Behavior and Financial Risk Indices Measures
作者:	黃健榮 Huang, Je Rome
贡献者:	林修葳黃健榮 Huang, Je Rome
关键词:	漲跌幅限制暫停交易停板 Tobit Model GMM Gibbs Sampler
日期:	1995
上传时间:	2016-04-28 14:42:36 (UTC+8)
摘要:	我國股市的價格漲跌幅限制已逾三十年的歷史，主管機關維持此一機制的訴求是避免股價波動過於激烈、抑制投機行為。惟停板限制可能帶來的影響，除直覺上的其造成投資者持股風險指標扭曲等問題。經探究中亦歸結出（一）其被引為技術指標、（二）其引致財務風險指標扭曲等問題。　　Thsi Study explores how price limits, which have remained in Taiwan Securities Exchange for over thirty years, affects both security price behavior and security risk indices. Its empirical results add to our understanding of the social costs and benefits of price limits. The SEC has been advocating the merits of price limits, emphasing that they help eliminating speculative trades and reducing security price volatility. In contrast, it remains a popular thought that price limits increase investors’holding costs and risks. To empirically examine the effects of price limits in Taiwan, this papers adopts Two-Limit-Tobit Model, together with CAAR as an indicator for specification validity. My test results lend support to the notion of (1).Technical Indicator Effect immediately before the price limits are hit; (2).Enhancement Effect the day after. Moreover, price limits contribute to bias in both systematic risk and total risk estimates (namely, β and σ) and thus distort investment decisions.
描述:	碩士國立政治大學國際經營與貿易學系 83351006
資料來源:	http://thesis.lib.nccu.edu.tw/record/#B2002002760
数据类型:	thesis
显示于类别:	[國際經營與貿易學系 ] 學位論文

文件中的档案:

档案	大小	格式	浏览次数
index.html	0Kb	HTML2	196	检视/开启

在政大典藏中所有的数据项都受到原著作权保护.

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.

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