查詢結果分析
來源資料
頁籤選單縮合
題名 | 上市公司不動產交易宣告對其股價影響之研究=The Announcement Effect of Real Estate Transactions on Firms' Stock Prices |
---|---|
作者 | 洪裕勝; 彭序文; Horng, Yuh-sheng; Peng, Hsu-wen; |
期刊 | 逢甲學報 |
出版日期 | 20000600 |
卷期 | 37 2000.06[民89.06] |
頁次 | 頁19-41 |
分類號 | 554.8 |
語文 | chi |
關鍵詞 | 宣告效果; 不動產交易; Announcement effect; Real estate transactions; |
中文摘要 | 本研究主要在探討不動產交易宣告對於上市公司股價波動之影響。除了對全部樣本進行統計分析外,亦將樣本分成買與賣兩部份,分別進行統計分析,檢視其間是否因買或賣會造成不同的宣告效果。此外,並依不同特徵,將研究樣本細分為各子群體,深入檢視在各種特徵下之不動產交易宣告是否亦會對股價造成不同的影響。根據本研究的實證結果顯示:1、不動產交易宣告會造成顯著的負向異常報酬。2、不動產交易宣告交易金額的多寡可能會對該公司股價造成不同程度的影響。3、不同事件窗口的累積異常報酬顯示多具顯著的負向異常報酬。 |
英文摘要 | This study examines the announcement effect of real estate transactions on firms' stock returns. The sample consists of both acquisition and disposition announcements of real estate. The empirical results show that all cumulative abnormal returns in different event windows are significantly negative for whole sample. The results also show that the transaction price affect the two-day cumulative abnormal return of whole sample. For acquisition sample, the abnormal returns for the day of announcement and one day prior to announcement are significantly negative. In addition, the results show that all cumulative abnormal returns in different event windows are significantly negative for acquisition sample. For disposition sample, the results show that all cumulative abnormal returns in different event windows are significantly negative except CAR(-3.0). |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。