The Impact of the Information of Second Generation National Health Insurance Supplementary Premium on the Stock Market
| Autor: | Yu-hung Cheng, 鄭裕弘 |
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| Rok vydání: | 2012 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 100 This paper discusses whether the announcement of the information of the Second Generation National Health Insurance (NHI) supplementary premiums affects the stock market and creates negative cumulative abnormal returns. A regression model is established to analysis the correlation between the cumulative abnormal returns with dividend policy, proportion of institutional ownership and the electronics industry. The empirical findings are: After the announcement of the information of the Second Generation NHI supplementary premiums, the information did have significant negative cumulative abnormal returns of the listed company at stock exchange market stock price during the event period. Regression analysis shows no significant correlation between the cash dividend yield, the proportion of institutional ownership and cumulative abnormal return rate. However, the stock dividend yield significantly correlated with the information of the Second Generation NHI supplementary premiums. In the case of obviously higher non-fixed salary in electronics industry, cumulative abnormal returns also significantly correlated. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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