A Study on the Herding Behavior of Qualified Foreign Institutional Investors in Taiwans Traditional Industries Listed Firms
| Autor: | CHIOU,YU-TING, 邱鈺婷 |
|---|---|
| Rok vydání: | 2018 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 106 This study explores whether the foreign institution has a reputational herding for the traditional industry stocks, and then further observe the impact of the company's characteristic variables on the reputational herding. The sample selected for this study period is from 2011 to 2015, and the sample frequency is monthly data. For this study,the foreign institution is our object, to explore the analysis of reputational herding behavior by cement industry, food industry, plastic industry, textile fiber. The empirical evidence shows that foreign institution have reputational herding in the traditional stocks, it represents that they will be considered by the reputation, and take the same investment decisions with other foreign institution. But in the cement industry, the reputational herding is not obviously. Further adding the company characteristic variables, performing regression analysis. The empirical evidence shows that the reputation of foreigners is affected by the characteristics of the company, such as small-scale companies, low book market value, low return on shareholders' equity and higher debt-to-equity ratio. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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