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| Title: | 流動性：指標與實證－台灣股票市場之上櫃轉上市
Liquidity: Measures and Evidences form Exchange Listings in Taiwan Stock Market |
| Authors: | 黃琛汶
Huang, Chen-Wen |
| Contributors: | 郭維裕
黃琛汶
Huang, Chen-Wen |
| Keywords: | 流動性
上櫃轉上市
事件研究法
liquidity
exchange switching
event study |
| Date: | 2001 |
| Issue Date: | 2016-04-18 16:24:46 (UTC+8) |
| Abstract: | This study employs event study to show that, on average, exchange switching in Taiwan stock market from 1997 to 2000 is a negative event for stockholders. Stocks involved in exchange switching experience negative abcdrmal returns before and after switching. And, in general, liquidity deteriorates after exchange switching. Therefore, TSEC is not absolutely better than OTC from the view of liquidity-providing. Several conclusions are derived in this paper: 1. On average, exchange switching in Taiwan does not create value for stockholders. 2. In general, liquidity deteriorates after switching according to the evidences found in this study with multiple liquidity measures. 3. Liquidity indeed has multiple facets. 4. TSEC is not exactly better than OTC for raising in terms of function of liquidity providing. |
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| Description: | 碩士
國立政治大學
國際經營與貿易學系
88351010 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#A2002001526 |
| Data Type: | thesis |
| Appears in Collections: | [國際經營與貿易學系 ] 學位論文
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