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| Title: | 台灣股市長期報酬及擇時策略
Long term performance of Taiwan Stock Market and timing strategy |
| Authors: | 林牧民
Lin, Mu- Ming |
| Contributors: | 周行一
Chow, Edward H.
林牧民
Lin, Mu- Ming |
| Keywords: | 長期報酬
台灣股市
擇時策略
long term
timing
stock market |
| Date: | 2009 |
| Issue Date: | 2016-05-09 15:16:21 (UTC+8) |
| Abstract: | 無
This paper investigates the long term performance of Taiwan stock market from 1967 to 2008. We obtain the total return of Taiwan Stock Exchange Capitalization Weighted Stock Index (“TAIEX”) by adjusting cash dividends. Prior to Dec 31st, 2008, the adjusted TAIEX (AdTAIEX) become 16,088.49 is 3.5 times than 4591.23, the TAIEX it reach. Based on annualized rate of return, AdTAIEX has 13.069% greater than 9.743% of TAIEX. Investors not only care about the rate of return of their portfolio, but the real purchasing power they have. Based on correction of inflation, AdTAIEX only has 8.25% annually, with 4.819% erosion by inflation. TAIEX only has 5.07% annually, with 4.673% erosion by inflation. Also, we create a timing strategy according to the varying of past variance that may help “buy and hold”strategy. |
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| Description: | 碩士
國立政治大學
財務管理研究所
96357023 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0096357023 |
| Data Type: | thesis |
| Appears in Collections: | [財務管理學系] 學位論文
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