Is the Election Good News Fake News？The Case of President Election

Autor:	SAI-HAO Pan, 潘思豪
Rok vydání:	2014
Druh dokumentu:	學位論文 ; thesis
Popis:	102 Is the Good News before the Taiwanese Presidential Election Counterfeit News? The sample consists of five Taiwanese presidential elections from 1996 to 2012. I analyze Return on Assets (ROA) and stock monthly return, and use cross-sectional regressions to investigate the empirical results. Results show that industries that possess larger quantity of news tended to have higher ROA than other industries before the presidential election. However, their ROAs decline much more after the presidential election. The evidence is similar after adding three variables, lagged ROA, industry market to book ratio and industry market value. Therefore, these results are not related to these confounded variables. Overall, the election good news seems generally fake and does not have real effect.
Databáze:	Networked Digital Library of Theses & Dissertations
Externí odkaz:	http://ndltd.ncl.edu.tw/handle/62454309278209588737 Zobrazit plný text záznamu