The Impact of the Announcement of New drug License on the Stock Prices of Taiwan's Biomed Pharmaceutical Industry.
| Autor: | Wang, Chun-Yuan, 王俊元 |
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| Rok vydání: | 2019 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 107 This study extends signaling theory to research on Taiwan Biopharmaceutical New drug approved to enter the market. This investigation aims to investigate the market response to the announcement of new drug clinical phase III trial and the new drug in Taiwanese Biotechnology pharmaceutical industry. The empirical findings are as follow: 1. Taiwanese Biopharmaceutical stocks’ abnormal returns are negative during the announcement of new drug application for clinical phase III trial. 2. There is no significant market reaction in Taiwanese Biopharmaceutical industry if the new drug clinical phase III trial failure was announced which appears to be a fizzle. 3. Taiwanese Biopharmaceutical stocks’ abnormal returns are positive if the new drug clinical phase III trial successful was announced. 4. Taiwanese Biopharmaceutical stocks’ abnormal returns are positive if the new drug through the marketing license was announced. 5. Taiwanese Biopharmaceutical stocks’ abnormal returns will be significantly different between the successful and unsuccessful incidents of the new drug clinical phase III trial. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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