The Study for Convertible Bonds' Return while TCRI changes
| Autor: | Shu-Chi Li, 李書齊 |
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| Rok vydání: | 2017 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 105 The purpose of this research is to explore the announcement effect to Taiwan convertible bonds’ return after credit rating (TCRI) releases its rating quarterly.This thesis uses 2012 to 2016 Taiwan public convertible bonds as sample, hoping that we can find out the relationship between convertible bond price return, stock price return and the level of investors’ confidence to company. The empirical result shows that after credit ratings’ announcement, the price of the stock price creats the average cumulative abnormal return (CAR).Besides, while TCRI changes, it is not exactly clear that the announcement effect of TCRI would create aumulated abnormal compensation, which is out of our expectation.Last, we find that it is positive relation with convertible bond price return, stock price return, investors confidence and TCRI changing. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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