Strategy for Stock Selection- comparative analysis of the Growth-based Stock with CSR and the Stocks characterized with large-scale market rate of return
| Autor: | WANG, HONG-AN, 王弘安 |
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| Rok vydání: | 2016 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 104 Stock market represents a market mechanism allowing enterprises to conduct financing activities. Also, stock market is a place making investors find the enterprises they identify their business philosophy. However, after a long period of development, featured investment styles flourish among investors. The investment styles of famous stockbrokers, such as Warren Buffett and André Kostolany, become the learning objects of many investors. The research subject of this research is the growth stocks with high revenues and earnings in the environment with diverse investment styles. In addition, the "Global Compact Program" about corporate social responsibility issues proposed by Kofi Atta Annan, the UN Secretary General, and the "Taiwan Best Corporate Citizenship Award" awarded by Commonwealth Magazine in 2007 are the two standards evaluating corporates in this study. Among the companies winning "Taiwan Best Corporate Citizenship Award" from 2007 to 2015, the growth stocks are screened to demonstrate whether they have opportunities to transcend the stock market. In this study, growth stocks are selected through a customized method. It is found that growth stocks in the one-year and five-year groups of the "Taiwan Best Corporate Citizenship Award" provided by Commonwealth Magazine. During the demonstration from 2011 to 2015, the research results are as follows. 1. During the period of holding the awarded one-year growth stocks in one to five years, there is no excess return. 2. There is excess return in the awarded five-year-and-above growth stocks, no matter how long the shareholding years last. 3. In terms of the overall holdings of the growth stocks with Corporate Social Responsibility, there is excess return in holding shares for five years; however, there is no excess return in holding shares for one year. Key words: growth stocks, corporate social responsibility, investment style, stock-picking strategy. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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