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    Title: 我國新上市股票價格行為與長期績效之研究
    THE POST-LISTING RETURN PERFORMANCE OF UNSEASONED ISSUES OF COMMON STOCK IN TAIWAN
    Authors: 徐瑋霙
    Hsu, Wei-Ying
    Contributors: 康榮寶
    張志中

    Jung-Pao Kang
    Chin-Chung Chang

    徐瑋霙
    Hsu, Wei-Ying
    Keywords: 新上市股票
    超額報酬
    年度景氣
    公司規模
    中籤率
    業績持續性之預測
    Date: 1995
    Issue Date: 2016-04-28 14:47:44 (UTC+8)
    Abstract: 我國股市自民國76年起,由於經濟情勢變遷,全面電腦化搓合交易,人氣與資金之大量投入,使得股市蓬勃發展;新上市股票遂成為廣受研究之課題.本研究係探討我國新上市股票上市後之股價行為及其長期績效之觀察.本研究採橫斷面設計,探討新上市股票是否有超額報酬之存在;且進一步研究可解釋超額報酬之因素.以民國76年至84年9月底共195家新上市股票為研究對象,採用敘述性統計,兩樣本T檢定及變異數分析進行測試.本研究之結論如下:
    Reference: 一.中文部份
    l 汪泱若,由會計審計觀點論我國新上市股票之問題,民國79年4月
    2 李廣進,台灣-地區新上市股票短期投資報酬率之研究,台灣大學商學研究所未出版碩士論文,民國69年6月
    3. 洪日爛,台灣股票市場新上市股票投資報酬率與市場效率性之研究,政治大學企業管理研究所未出版碩士論文,民國68 年6 月
    4 周士淵,我國新上市公司股票價格績效之研究,淡江大學管理科學研究所未出版碩士論文,民國81年6月
    5 柯百鈴,台灣新上市股票短期報酬之探討,政治大學企業管理研究所未出版碩士論文,民國78年6月
    6 倪安順, SAS 基礎與統計應用實用手冊,儒林公司,民國81年1月三版7 財團法人中華民國證券暨期貨市場發展基金會,中華民國證券市場,八十三年出版
    8. 康榮寶、陳文彬及蔡柳卿,論新上市股票承銷制度的合理性與合理規範,證券市場發展季刊,第23期,民國83年7月
    9 陳秀亮,新上市股票價格行為探討,中央大學產業經濟研究所未出版碩士論文,民國76年6
    10. 曾國揚,上市後業績衰退與盈餘管理之關係,政治大學會計研究所未出版碩士論文,民國84年7月
    11 楊泓文,新上市股票報酬之研究,交通大學管理科學研究所未出版碩士論文,民國76年6月
    12 蔡柳卿,依理性預期理論論我國承銷制度,政治大學會計研究所未出版碩士論文,民國83年7月
    13 顏月珠,應用數理統計,三民書局出版第三版,民國79年l月
    14. 羅贊興,我國新上市股票短期報酬之研究,淡江大學金融研究所未出版碩士論文,民國79年1月

    二.外文部份
    1.Aff1eck-Graves , J , Shantaram P . Hedge, Robert E. Miller, and Frank
    K. Reilly, "The Effect of the Trading System on the Underpricing of
    Initial Public Offerings" Financial Management (Spring
    1993) ,pp. 99-108
    1.Aggarwal, R. and P. Rivoli, "Fads in the Initial Public Offering Market?"
    Financial Management (Winter 1990) ,pp. 45-57.
    2.Aggmwal , R. , R. Leal, and L. Hernandez, "The After Performance of
    Initial Public Offering in Latin America" Financial Management
    ( Spring 1993 ) ,pp.42-53.
    3.Baron,D.P. ,"A Model of the Demand for Investment Banking and
    Advising and Distribution services for New Issues" ,Journal of Finance
    ( September 1982) ,pp.955-977.
    4.Barry, C.B. and R.B. Jennings, " The Opening Price Performance of
    Initial Public Offerings of Common Stock" Financial Management
    ( Spring 1993 ) ,pp.54-63 .
    5.Dawson, S.M., "Secondary Stock Market Performance of Initial Public
    Offers, Hong Kong,Singapore and Malaysia: 1978-1984" Journal of
    Business Finance and Accounting (Spring 1987) ,pp. 65-76.
    6.Dawson, S.M. and T. Hiraki, "Selling Unseasoned New Share in Hong
    Kong and Japan : A test of Primary Market Efficiency and
    Underpricing, "Hong Kong Journal of Business Management (1985),
    pp. 125-134.
    7.Finn, FJ. and R. Higham, "The Performance of Unseasoned New Equity
    Issue: Common Stocks Exchange Listing in Australia, "Journal of
    Banking and Finance (September 1988) ,pp. 333-351 .
    8.Hughes, PJ. ,:Signalling by Direct Disclosure Under Asymmetric
    Information" ,Journal of Accounting and Economics (June 1986), pp.119-142.
    9.Husson, B. and B. Jacquillat, "Sous-evaluation des titres et methods D’introduction au second marche (1983-1986), "Finance (December 1990) ,pp. 123-134.
    10Jog, V.M. and A.L. Riding, "Underpricing in Canadian
    IPOs, "Financial Analysts Journal (November -December 1987 ) , pp.48-55
    11.Leland ,H.E. and D.H. Pyle, "Informational Asymmetries Financial Structure , and Financial Intermediation " Journal of Finace ( May 1977) ,pp.371-387.
    12.Levis, M., "The Long-Run Performance of Initial Public Offerings: The
    UK Experience 1980-1988,"Financial Management ( Spring 1993 ), pp.28-41.
    13 .McGuines, Paul, "The Post-Listing Return Performance of Unseasoned Issues of Common Stock in Hong Kong "Journal of Business Finance And Accounting (1993) ,pp. 167-194.
    14.Muscarella, C.J. and M.r. Vetsuypens, "A Simple Test of Baron`s Model of IPO Underpricing ,"Journal 0f Financial Economics (September 1989) ,pp. 125-135.
    15 .Reilly, F.K., "New Issues Revisited, "Financial Management (Winter 1977) ,pp. 28-42.
    16 . Ritter , J., "The long Run Performance of Initial Public Offerings, "Joun1al of Finance (June 199] ) , pp. 3-27.
    17.Rock , K. ,"Why New Issued Are Underpriced? "Journal of Financial. Economics (January/Feburary 1986) ,pp.187 -212 .
    18.Tinic, S.M., "Anatomy of Initial Public Offerings of Common Stock" ,Journal of Finance (September 1988) ,pp .789-822.
    19.Titman, S. and B. Trueman, "Information Quality and the Valuation of New Shares", Journal of Accounting and Economics ( June 1986) ,pp.159-172.
    20.Uhlir, H., "Going Public in the F.R.G.,"in A Reprasial o/the Efficiency of Finacial Markets, R.Guimaraes, et al( eds. ), Berlin, Springer-Verlag, 1989
    Description: 碩士
    國立政治大學
    會計學系
    83353003
    Source URI: http://thesis.lib.nccu.edu.tw/record/#B2002002848
    Data Type: thesis
    Appears in Collections:[Department of Accounting] Theses

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