政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/124131

政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/124131

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政大典藏 > College of Commerce > Department of Finance > Theses > Item 140.119/124131

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/124131

Title:	法人說明會逐字稿內容對股價異常報酬之影響因素-以台積電為例 The affecting factors on abnormal return of stock price from the transcript content of Conference Call- An example from TSMC
Authors:	何文揚 Ho, Wen-Yang
Contributors:	陳聖賢 Chen, Sheng-Syan 何文揚 Ho, Wen-Yang
Keywords:	法人說明會盈餘宣告後股價持續反應異常報酬內容分析 Conference Call Post-earnings Announcement Drift Abnormal return Content analysis
Date:	2019
Issue Date:	2019-07-01 10:45:35 (UTC+8)
Abstract:	法人說明會為企業向市場傳遞訊息的重要管道之一。透過法人說明會的內容，能夠讓市場上的機構投資者或其他投資大眾了解更多關於公司營運及財務狀況，甚至是公司未來的前景。本研究將藉由透過研讀法說會的內容，進而找出別於過往對於盈餘宣告拖曳效果(Post-earnings Announcement Drift，以下簡稱PEAD)的幾項重要關鍵因素。以台積電2017年所公布之法說會為例，我們發現在歸納並觀察每一季法說會之財務資訊、產品及製程營收分布變動、奈米製程演進、分析師重要的提問、及執行長對產業概況前景描述幾大面向後，可以更深度的去找到在公司公布的逐字稿內容中的重要意涵，進而觀察並分析影響PEAD的因素。 Conference call is one of the important channels for companies to deliver information to the market. Through the contents of conference call, institutional investors and other investors in financial market can learn more about the company`s operations, financial situation, and even the company`s future prospects. This paper will identify several key factors for the Post-earnings Announcement Drift (PEAD) by studying the content of the conference call. For example, we used the conference calls which were announced by TSMC in 2017. We summarized and observed that the financial information, product and semiconductor process revenue distribution of each season, the evolution of nanometer process, important questions from analysts, and the managers’ prospective description to the future can be more in-depth to find out the important meanings in the company`s public conference call transcript, and then to observe and analyze the factors affecting PEAD.
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Description:	碩士國立政治大學財務管理學系 106357033
Source URI:	http://thesis.lib.nccu.edu.tw/record/#G0106357033
Data Type:	thesis
DOI:	10.6814/NCCU201900109
Appears in Collections:	[Department of Finance] Theses

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