Dissertations / Theses on the topic 'Company stocks'
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Jiang, Xin. "Risk Analysis of Wind Energy Company Stocks." Thesis, Linnéuniversitetet, Institutionen för matematik (MA), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-98039.
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In this thesis, probability theory and risk analysis are used to determine the riskof wind energy stocks. Three stocks of wind energy companies and three stocksof technology companies are gathered and risks are compared. Three difffferent riskmeasures: variance, value at risk, and conditional value at risk are used in this thesis.Conclusions which has been drawn, are that wind energy company stock risks arenot signifificantly lower than the stocks of other companies. Furthermore, optimalportfolios should include short positions of one or two of the energy companies forthe studied time period and under the difffferent risk measures.
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Chow, Mun-chong Rebecca. "Company takeovers and efficiency of the Hong Kong stock market." Click to view the E-thesis via HKUTO, 1985. http://sunzi.lib.hku.hk/hkuto/record/B42574018.
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Garcia, Carolina Elisa Fernandes. "Do the results of canadian hockey have any influence in sports-related company stocks?" Master's thesis, Instituto Superior de Economia e Gestão, 2016. http://hdl.handle.net/10400.5/12611.
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Mestrado em FinançasO hóquei no gelo é considerado o desporto rei do Canadá, neste contexto, o hóquei faz mexer muito dinheiro na economia do país. Este estudo empírico tem como objetivo avaliar o impacto dos resultados desportivos do hóquei canadiano no valor de mercado das empresas relacionados com o desporto estudado. Isto foi conseguido usando a metodologia de estudo de eventos em 4 empresas relacionadas com desporto, cotadas na Bolsa Canadiana, e quatro equipas canadianas de hóquei no gelo, que jogam na Liga Nacional de Hóquei no Gelo, entre 2005 e 2015. Posteriormente foram testados seis diferentes testes de hipóteses do impacto que os resultados do hóquei têm nas empresas: vitória e derrota; muitos golos e poucos golos; e adversário "fácil" e adversário "difícil". A metodologia usada nesta dissertação é a de estudos de eventos, onde são calculados os retornos anormais (AR) e os retornos anormais médios a fim de se concluir se existe evidência de que os resultados desportivos levam a retornos anormais. Os resultados obtidos mostram que existem AR como resultado dos resultados desportivos do hóquei no gelo. O valor de mercado das empresas é positivamente afetado por uma vitória e negativamente por uma derrota. Adicionalmente, uma vitória por uma diferença de golos grande tem um efeito negativo, enquanto uma vitória por uma diferença de golos pequena tem um efeito positivo. Por fim, uma vitória contra um oponente "difícil" ou "fácil" tem um impacto negativo ou positivo, respetivamente, nas ações das empresas.
Ice hockey is considered the main sport in Canada, hence moving a lot of money in the country's economy, more specifically in sport related companies. This empirical study's objective is to evaluate the impact that Canadian ice hockey outcomes has on the abnormal returns of sport-related company. This was accomplished by using the event study methodology on 4 sport-related companies, quoted on the Canadian Stock Exchange, and four Canadian hockey team, playing in the National Hockey League, between 2005 and 2015. The NHL is a professional ice hockey league composed by American and Canadian teams. Subsequently 3 different hypotheses were tested on the impact of the hockey results: Win and Loss; Many Goals and Less Goals; and "easy" opponent and "hard" opponent. The methodology used by this dissertation is the event study methodology, where abnormal returns and average abnormal returns are calculated in order to conclude if there is evidence that sports results lead to abnormal returns. Findings indicate that there are abnormal returns as a result of sporting results. The market values of the companies are positively affected by a victory and negatively by a defeat. Additionally, a win by a large amount of goals difference negatively impacts the stock prices, while a win by a less amount of goals affects negatively the company value. Finally, a win against a "hard" or "easy" opponent affects the stock price of the sport-related companies negatively and positively, respectively. A loss depends on the company that is being analyzed.
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Chow, Mun-chong Rebecca, and 周敏莊. "Company takeovers and efficiency of the Hong Kong stock market." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1985. http://hub.hku.hk/bib/B42574018.
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Doukkali, Narjisse. "La stratégie juridique du portage de titres en droit des sociétés : Quelle a été l’évolution de la pratique du portage de titres en droit français ?" Thesis, Paris Est, 2012. http://www.theses.fr/2012PEST0044.
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Le droit des sociétés a été depuis sa création et de façon encore plus prononcée de nos jours, un ensemble de règles stratégiques au service d’entrepreneurs et d’associés désireux d’exceller dans le monde des affaires. Le portage d’actions est l’une des techniques juridiques développées par le droit des sociétés qui manifeste le plus justement le caractère stratégique de cette matière.Le portage d’actions est une convention dite sui generis qui permet de prendre temporairement et indirectement une participation au sein d’une société. Le portage est la convention par laquelle un porteur, généralement une personne morale (société ou organisme financier), convient avec une personne physique ou une autre personne morale, dite donneur d’ordre, qu’il souscrira ou achètera des actions pour le compte de celle-ci à charge pour elle de les lui racheter au terme d’une période déterminée et moyennant un prix convenu par avance.L’utilité de cette convention est double : elle permet, d’une part, de décharger le donneur d’ordre de la propriété des actions pendant une période déterminée en la confiant au porteur, et d’autre part, d’assurer au donneur d’ordre un certain contrôle sur les actions pendant la durée du portage, ainsi que leur appropriation à l’expiration de cette durée. Le portage d’actions connait d’innombrables applications licites et répond ainsi à de nombreuses finalités. En effet, cette convention peut avoir pour but de garantir une certaine discrétion au donneur d’ordres étant donné qu’elle permet de cacher son identité que ce soit dans un but offensif (prise de participation agressive dans une société où le donneur d’ordre serait mal perçu) ou défensif (faire face à une éventuelle prise de contrôle inamicale en confiant à un porteur allié la propriété d’actions constituant un noyau dur). Le portage d’actions permet également l’arbitrage entre deux groupes d’actionnaires, lorsque le capital d’une société est détenu par6moitié par deux groupes d’actionnaires, mais aussi l’appropriation par le porteur d’actions proposées à la vente, en cas de refus d’agrément du cessionnaire et dans l’attente de trouver un substitut à ce dernier. Toutefois, la technique du portage connaît également quelques pratiques douteuses, à la limite de la fraude à la loi qui remettent manifestement en cause ce type de convention. En effet, il a été observé que le portage pouvait être utilisé pour servir à remplir les conditions légales relatives au nombre minimum d’actionnaires, ou pour permettre à un donneur d’ordre qui ne peut avoir la qualité d’actionnaire d’accéder à terme au capital d’une société.La technique du portage d’actions du fait des diverses applications plus ou moins licites qu’elle connait et du fait de son caractère stratégique amène à se poser de nombreuses questions. Les principales problématiques qui ressortent sont, d’une part, celles ayant attrait à l’évolution juridique du mécanisme même du portage et à sa compatibilité avec la qualité et le statut d’associé et, d’autre part, celles ayant attrait au contexte juridique entourant cette technique et au caractère stratégique de l’utilisation de ce type de convention. Enfin, cette thèse sera également l’occasion d’étudier les parallèles existant entre le portage d’actions et la technique de la fiducieSummary not transmitted
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Putri, Autie Minati, and Hadla Mostafa Al. "Organizational Learning and Project Portfolio Success : An Empirical Study in a Multinational Oil and Gas Company." Thesis, Umeå universitet, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-115224.
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This study aims to understand the impact of organizational learning on project portfolio success in a multinational Oil and Gas company operated in Indonesia. The Organizational Learning and Project Portfolio Success have been proven to have contribution to business performance and they might possess a relationship where enhancing one of them will strengthen the other. Exploring on this relationship might give beneficial input to the organization in order to maximize their success. Thus, our research question is formulated as: To what extent does Organizational Learning impact the Project Portfolio Success? We developed the study’s conceptual model based on the relevant previous literature. The conceptual model depicted the aim of the study to test the potential positive impact of each Learning Stocks (Individual, Group, and Organizational) on Project Portfolio Success, as well as the aim to test the potential negative impact of the misalignment between Learning Stocks and Learning Flows on Project Portfolio Success in the studied company. We adopted quantitative research method due to the nature of research question and the ontological and epistemological assumptions we hold toward the studied phenomena. Accordingly, we used a questionnaire as an instrument to collect the required data to test the hypotheses. The questionnaire was subject to a pilot test to ensure the clarity of statements before it was distributed to the targeted respondents which are the managers and the Project Management Office personnel in the studied company. The research hypotheses were tested by applying single and multi-regression analyses using SPSS software. Our findings showed that, independently, each learning stock type (Individual, Group and organizational) has a significant positive impact to project portfolio success. When we looked for the best model that gives the highest explanatory power, the result showed that the combination of all three learning stocks in one model can explain project portfolio success construct the most. Lastly, the study proved that the misalignment between learning stocks and flows gives negative impact to the project portfolio success. We concluded the study by stating the theoretical contribution and practical recommendations based on the results such as the need to have a balanced investment in the individual, group and organizational learning stocks; ensure the alignment between the organizational units’ strategies and goals; develop an “Internal Strategy Awareness Index”; and conduct a revision of the alignment between the company’s strategy and the project portfolio.
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Langmead, Peter Martin Stuart. "An explanation for abnormal returns from initial public offers and the revelation of information on the first day of trading of new company stocks." Thesis, University of Strathclyde, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.311298.
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Palmlöv, Andreas. "The Trump Effect : A Case-Study of Immediate Stock Market Reactions to the President’s Company-specific Twitter Mentions." Thesis, Uppsala universitet, Statsvetenskapliga institutionen, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-352747.
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This thesis investigates how the U.S President’s Twitter mentions of individual companies’ investment announcements influence the short-term price of their stock. By assuming that the President’s comments on a company’s plans should be incorporated by markets as new information, testing the Efficient Market Hypothesis assumption that the markets incorporate all new information, the thesis seeks to contribute to a new, unexplored and growing, research field. This thesis utilizes a qualitative analysis method, studying Twitter mentions on the topic of Trump’s Tax Reform. The data in this thesis is derived from the President’s personal Twitter-account, company announcements, stock price charts, and the Standard & Poor’s S&P500 Index. To conclude, this study finds that although the President’s Twitter comments may signal his public approval of a company and its plans, it appears that any market reaction is only short-term, and that as the market incorporates additional information it returns to an informed state in terms of stock valuations. This study suggests that there are few observable indicators that Trump’s positive mentions on Twitter causes any significant market reaction.
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Williams, Mark H. "Analysis of risk factors in the design and construction of perishable food product displays contributing to back injuries for Company X." Online version, 1998. http://www.uwstout.edu/lib/thesis/1998/1998williamsma.pdf.
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Кириленко, Оксана Миколаївна, Д. Рябчун, Oksana Kyrylenko, and D. Ryabchun. "REORGANIZATION OF A JOINT-STOCK COMPANY." Thesis, Національний авіаційний університет, 2017. http://er.nau.edu.ua/handle/NAU/30869.
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Гуць, Євгеній Віталійович. "Система підтримки прийняття рішень для прогнозування нелінійних нестаціонарних процесів у фінансах." Master's thesis, КПІ ім. Ігоря Сікорського, 2020. https://ela.kpi.ua/handle/123456789/40498.
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Магістерська дисертація: 118с., 44 рис., 36 табл., 1 додаток, 18 джерел.
Дана робота присвячена вивченню методів прогнозування та методик
побудови моделей нелінійних нестаціонарниї процесів, а саме методу
рекурентних нейронних мереж та застосування його на статистичних наборах
фінансових даних.
Об’єктом дослідження є нелінійні нестаціонарні процеси, подані у
вигляді статистичних даних стосовно ціноутворення акцій великих світових
технологічних компаній.
Предметом дослідження є ймовірнісно-статистичні та методи
інтелектуального аналізу даних для моделювання і прогнозування розвитку
нелінійних нестаціонарних процесів, множини критеріїв для аналізу
адекватності моделей та оцінювання якості прогнозів.
Метою магістерської роботи є вивчення основних засад побудови
моделей та прогнозування з використанням нейронної мережі LSTM, а також
розробка програмного продукту для отримання практичних результатів та
порівняння роботи алгоритму на різних наборах фінансових даних.The master thesis consist of 118 pages, 44 images, 36 tables , 1 appendice, 18 sources. The theme: «Decision support system for forecasting nonlinear non- stationary processes in finance». This work is devoted to the study of forecasting methods and methods of constructing models of nonlinear non-stationary processes, the recurrent neural networks and its application on statistical data sets of financial data. The object of the work is nonlinear non-stationary processes, presented in the form of statistical data on the pricing of shares of major global technology companies. The subject of research is probabilistic-statistical and data mining methods for modeling and forecasting the development of nonlinear non-stationary processes, sets of criteria for analyzing the adequacy of models and assessing the quality of forecasts. The purpose of the thesis is to study the main principles of models construction and forecasting using the neural network LSTM, as well as the development of a software product for obtaining practical results and comparing the operation of the algorithm on different sets of financial data.
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Hasil, Petr. "Aplikace fundamentální analýzy při investování do akcií vybraných evropských technologických společností." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2015. http://www.nusl.cz/ntk/nusl-225301.
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This thesis deals with the fundamental analysis of stocks of selected European technology companies. This type of analysis is the most widely used method of valuation of the shares. The first part describes the theoretical background of the analysis current economic situation, regression analysis, analysis of corporate shares and methods of intercompany comparison necessary for practical application. In the practical part focuses on the analysis of selected companies and selecting evaluation indicators. Subsequently is determined by corporate analysis the current intrinsic value of the shares. In conclusion, a comparison is made of firms using the methods of intercompany comparison. Based on the results of the analysis will be proposed recommendations for the best investment.
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Kayacetin, Volkan Nuri. "Cross-section Of Average Stock Returns On The Istanbul Stock Exchange." Thesis, METU, 2004. http://etd.lib.metu.edu.tr/upload/1088756/index.pdf.
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The aim of this master thesis is to examine the explanatory power of some popular company-specific factors for the cross-section of average stock returns in the Istanbul Stock Exchange (ISE) for a period from 1992 to 2001. Factors tested in this thesis are firm size (MVE), book-to-market value of equity (BMR), debt-to-equity ratio (DER), sales-to-price ratio (SPR), gross profit-price ratio (GPPR) and dividend yield (DY).
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Němeček, Josef. "Jak finanční trhy sledují hospodářství." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-199755.
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In accordance with its main goal, the main thesis shows which published data and indicators contemporary financial markets use to assess the state of major economies and forecast their short-term future development. Using Bloomberg as the primary source, the thesis provides a detailed analysis of the indicators and surveys sought by finance professionals when assessing the performance of the economy in the United States, the euro-zone (with emphasis on Germany) and, in the context of the impact on the global economy and markets, in China and Japan. A preliminary hypothesis about the similarity or closeness between the theoretical view and the practical approach of financial markets has been refuted. Instead, after close scrutiny and detailed analysis, we have established that financial markets put great emphasis on forward-looking indicators and monetary policy. This emphasis was confirmed by a survey of local investors. Using expert opinion and analysis, the thesis charts an overview of select economic indicators and their over- (payrolls, consumer sentiment) or undervaluation (regional Fed activity indexes, CFNAI).
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Žigárdy, Martin. "Program pro analýzu ekonomických dat užitím matematického modelování v Maple." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2010. http://www.nusl.cz/ntk/nusl-222423.
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In this diploma thesis I constructed generally usable program for processing economical data through mathematical methods of linear regression in Maple system. Program is used for trend dependency analysis of examined quantities. Via multi-stage algorithmization and implementation of information criterion I created interactive form with user-friendly interface with possibility of straight data import from office suite applications. Functionality of this program is verified on example with specific data collection.
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Ovesná, Michaela. "Založení a vznik akciové společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-203810.
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This master thesis discusses main characteristics and the process of establishment of joint stock company in the Czech Republic. At first the work analyses the process of establishment of joint stock company through statutes of a joint stock company formation and their mandatory and optional elements. Next part of the thesis deals with the process of creation of the joint stock company by registration to the Commercial Register. The aim of this thesis is to analyse the legislation related to the establishment of joint stock company and to show some general patterns concerning establishment of joint stock company for potential founders.
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Li, Meng M. Eng Massachusetts Institute of Technology. "An optimal stock building strategy in a manufacturing company." Thesis, Massachusetts Institute of Technology, 2007. http://hdl.handle.net/1721.1/42323.
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Thesis (M. Eng.)--Massachusetts Institute of Technology, Dept. of Mechanical Engineering, 2007.Includes bibliographical references (p. 54).
This thesis aims to tackle a demand seasonality problem by building either work-in-process inventory or finished goods inventory before the peak season. A linear programming algorithm is developed to determine the optimal way for stock building in order to satisfy the demand with minimum inventory holding cost. An optimization software ILOG OPL Studio 5.1 is used to solve the LP model to optimality within several seconds. The purpose of the analysis is three fold: (1) to identify the bottleneck processes where the capacities fall short of demand; (2) to generate the optimal stock building policy that minimizes the inventory holding cost; (3) to derive a cost-efficient executable production plan with consideration of the operating labor cost. The strategy outlined can be applied easily in actual manufacturing. This efficient and robust model can be used to obtain optimal stock building policy with various demand and capacity scenarios. It can be a useful tool for the company to develop stock building strategy for future demand with improved installed capacity. Key words: Optimization, linear programming, inventory building policy Disclaimer: Theeontent of the thesis is modified to protect the real identity of the attachment company. Company name and confidential information are omitted.
by Meng Li.
M.Eng.
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Park, Heejin. "Company Stock in Defined Contribution Plans: Evidence from Proxy Voting." Thesis, University of Oregon, 2014. http://hdl.handle.net/1794/18377.
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This study examines whether firms' decisions to offer company stock in defined contribution (DC) plans are explained by managers' corporate control motives. Using a large sample of proxy voting outcomes, I find that employee ownership in DC plans is significantly and positively associated with the level of voting support for management sponsored proposals. This suggests that managers encourage employee DC holdings in company stock in order to receive higher voting support in favor of management. The effects of employee ownership on voting outcomes are significantly greater in subsample tests than in full sample tests: management proposals opposed by Institutional Shareholder Services, management proposals of close votes, director election votes receiving more than 20% of votes withheld, and say-on-pay frequency proposals.
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Рєзнік, Маргарита Миколаївна, Маргарита Николаевна Резник, Marharyta Mykolaivna Rieznik, and Ю. Нагорний. ""Головний біль" акціонерних товариств." Thesis, Видавництво СумДУ, 2011. http://essuir.sumdu.edu.ua/handle/123456789/24697.
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Ілляшенко, Тетяна Олексіївна, Татьяна Алексеевна Ильяшенко, Tetiana Oleksiivna Illiashenko, Олександр Васильович Кубатко, Александр Васильевич Кубатко, and Oleksandr Vasylovych Kubatko. "Особливості функціонування акціонерних товариств в Україні." Thesis, Видавництво СумДУ, 2004. http://essuir.sumdu.edu.ua/handle/123456789/23001.
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Kamangar, Daniel, and Richard Sundin. "Management and CEO Stock Ownership and its Effect on Company Performance." Thesis, KTH, Matematisk statistik, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-229670.
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This is a study on the effect of management and CEO stock ownership on company performance. A regression analysis is performed on panel data consisting of a sample of 30 companies listed on OMX Stockholm Mid Cap. A total of 210 and 2520 observations is considered on a yearly and monthly basis, respectively, for seven years (2010-2016). The Hausman test is applied for determining between the fixed effects and random effects regression models. Results show that management relative stock ownership has a significant positive effect on company net income growth and return on assets. The effect is not significant for CEO stock ownership, which is contrary to what commonly has been shown for large companies in previous research. Moreover, alternative methodology is discussed for the benefit of the future researcher. The authors illustrate how the selection of dummy variables can be vital for final model outcomes, and it is thus an important aspect to consider when performing panel data analysis.I den här studien undersöks hur aktieinnehav hos ledning och den verkställande direktören i ett företag påverkar företagsutvecklingen. Studien genomförs med regressionsanalys på paneldata som består av 30 företag, samtliga noterade på OMX Stockholm Mid Cap. Totalt samlas 210 och 2520 observationer på årsbasis respektive månadsbasis över sju år (2010-2016). Hausman-testet används för att bestämma vilken av fixed effects-modellen och random effects-modellen som ska användas i regressionen. Resultaten visar att relativt aktieinnehav hos ledningen har en positiv signifikant påverkan på ett företags nettoinkomstutveckling och avkastning på tillgångar. Den verkställande direktörens aktieinnehav visas inte vara signifikant, vilket är motsatt till det som generellt har visats för stora företag i tidigare forskning. Regressionerna genomförs även med alternativa metoder, vilka det resoneras kring i en diskussion som bör vara till gagn för vidare forskning. Författarna illustrerar hur val av dummy-variabler kan ha en avgörande betydelse för regressionsanalysen, och att det således är en viktig aspekt att ta hänsyn till när regressioner genomförs på paneldata.
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Foreman, Denise Ann Wren. "The anticipation and interpretation of UK company announcements : the incentives to acquire information." Thesis, Brunel University, 1996. http://bura.brunel.ac.uk/handle/2438/6269.
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The objective of this thesis is to explain the behaviour of stock returns around the disclosure of different types of information release by UK companies. Previous literature has documented the existence of both market anticipation and the lagged impounding of value relevant information. The main objective of this research is, therefore, to identify the conditions under which investors choose to be informed in anticipation of and in response to, a corporate disclosure. More specifically, we explain the behaviour of stock returns in terms of the costs and benefits which investors must consider when deciding whether to acquire and interpret information. The results indicate that market anticipation is an increasing function of firm size, the number of years a firm has been trading and the volatility of prior stock returns. However, increased voluntary disclosure by firms would appear to reduce the ability of investors to and anticipate and interpret information. The volatility of stock returns, prior to the disclosure, is nevertheless the main driving force behind the explanation of post-announcement drift. There are also indications that investors' initial reactions to both earnings and non-earnings news are not based on informed judgements, and that bad news is generally associated with greater uncertainty than good news. Bad news would appear to be more difficult to anticipate and interpret, relative to good news. On further examination, however, investor anticipation is shown to be largely based on information as opposed to uninformed trading.
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Жепко, Л. В. "Внутрішній аудит в системі управління акціонерними товариствами." Thesis, Українська академія банківської справи Національного банку України, 2007. http://essuir.sumdu.edu.ua/handle/123456789/61508.
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Обгрунтовано впровадження служби внутрішнього аудиту, робота якої дозволить змінити підходи формування основних засад облікової політики шляхом орієнтування на основну мету – підвищення конкурентоспроможності, привабливості, сприяння позитивному іміджу, що призведе до зростання ринкової вартості підприємства.The introduction of the internal audit service, which will allow changing the approaches to formation of the main principles of accounting policy by orienting on the main goal - increasing competitiveness, attractiveness, promoting a positive image, which will lead to an increase in the market value of the enterprise, is substantiated.
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Doralt, Peter, and Gabor Török. "Satzung der ungarischen Aktiengesellschaft - Articles of Association of the Hungarian Stock Company." WU Vienna University of Economics and Business, 1997. http://epub.wu.ac.at/3395/1/ap047.pdf.
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Smith, Glenn Thomas. "The Impact of Socially Conscious Initiative Announcements on Coffee Company Stock Values." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/3836.
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Stockholders invest billions of dollars in the purchase of new corporate coffee stock while producers of these commodities exist in poverty of developing nations. Corporate managers may miss the opportunities for offering humanitarian aid if potential stockholders do not know of corporate social change initiatives. Little research in the influence of socially conscious initiatives exists in the coffee sector and none concentrating on socially conscious initiative announcements. If a relationship exists between socially conscious initiative announcements and stock investments, then managers could justify funding social change initiatives. This quantitative study used a 5 day pre and post event study methodology including t tests, ANOVAs, and regressions examining five companies with 138 individual announcements from 5 coffee companies between 2011 and 2015. The independent variables were socially conscious initiative announcements regarding separate initiatives in the Wall Street Journal and differing socially conscious initiatives in the Washington Post. The dependent variables were abnormal changes in the Standard and Poor coffee corporate closing prices. This study used the Weighted Average Cost of Capital, the Capital Asset Pricing Model, and the Fama-French 3 Factors Model to demonstrate abnormal positive stock abnormalities. resulting in statistically significant positive findings pre and post publication in the five companies examined. Further research could use different time periods or media outlets. Similar findings could support advantages for investors and managers for aiding struggling coffee producers enticing other corporations to follow suit leading to beneficial worldwide social good development.
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Zavacký, Radoslav. "Stanovy akciovej spoločnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-163962.
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This thesis discusses comprehensively statutes of a joint stock company. The thesis analyses the mandatory and optional elements of the statutes under the Commercial Code. The aim is not to list all elements that the statutes may include, but to direct potential founder of a company to the necessary provisions of the statutes according to the purpose of the stock company. One part of the thesis deals with the adoption, modification and nullity of the statutes. There are outlined changes in regard to the new Act on Commercial Corporations which comes in force on January 1, 2014 and has an influence on the content of the status. Lastly the thesis drafts the statutes in case of the establishment of a joint stock company. The procedure respects the provisions of the Act on Commercial Corporations too.
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Hangaika, Mathew. "The influence of economic bubbles on JSE Ltd listed company share prices." Thesis, 2014. http://hdl.handle.net/10210/12299.
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M.Com. (Financial Management)Researchers are not satisfied with models that explain share price variations based on net present value analysis. To overcome the traditional problems of net present value analysis, intrinsic bubbles and the dividend price ratio were investigated to explain share price volatility. An index derived from dividend paying shares listed on the Johannesburg Securities Exchange Limited (JSE Ltd) for the period January 2000 to December 2010 was investigated. This investigation was based on Froot and Obstfeld’s (1991) Intrinsic Bubbles model. The null hypothesis of no intrinsic bubbles was not rejected. The findings infer that share prices were not only driven by fundamentals, implying the presence of intrinsic bubbles. This is consistent with the findings of Brooks, Nneji and Ward (2011) after applying the same methodology on the US housing market. The researcher’s aim was to provide a better clarification on whether changes in fundamentals are suitable to predict share prices, but results were inconclusive in this regard. The results indicate that fundamentals account for 80.1% of share price movements.
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Lin, Jui-Feng, and 林睿峰. "A study on establishing trading agent of stocks by AI reinforcement learning in Taiwan semiconductor manufacturing company stocks." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/462rrn.
Full textAbstract:
碩士國立政治大學
資訊管理學系
106
Reinforcement learning is one of machine learning techniques. Reinforcement learning is inspired by psychology's behaviorism. Agents imitate learning methods that change behavior by pursuing rewards and avoiding punishment, just as creatures interact with the environment. Reinforcement learning is very good at continuous multiple decision-making. Stock market trading meets the nature of this type of problem. The state of the stock market environment is uncountable. It takes a lot of training costs for the learning agent to learn the response to all environmental states. This study uses two training models. First, cluster environmental states with unsupervised learning. Second, train the value function by Deep Q-learning algorithm which is combined with reinforcement learning and deep learning. This study uses technical indicators including MA, MACD, RSI, BIAS, KD as environmental states for trading agents to observe the market environment. This study designed seven sets of technical indicators. We compare their performance to find out which technical indicators are more representative of the market state. Take the total profit or total loss which is the difference between the funds held at the end of the trading and the funds held at the beginning of the trading as the reward signal. This study takes Taiwan Semiconductor Manufacturing Company stock as an example. We take six years of the after hours information on the website of the Taiwan Stock Exchange to train and test the performance of trading agents. Trading agents showed an average annual interest rate of 16.14% in the best performing model. The agent presents a stable trading strategy with effective profitability.
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陳禕瑋. "The relationship and arbitrage space between ADRs and stocks-Taiwan public company." Thesis, 1999. http://ndltd.ncl.edu.tw/handle/39782935344311145663.
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Yi, Wan-Lin, and 易婉琳. "Are Investors Confused by Stocks with Similar Company Names？(Huaguang v.s New Huaguang)." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/futx38.
Full textAbstract:
碩士靜宜大學
財務金融研究所
97
Recently, investors’ behavior related to the Behavioral Finance was introduced to detect the Representativeness Heuristic. The purpose of this paper is to examine whether the significantly positive correlation and the misunderstand of investor can be found by employing two companies which have similar names from china. I choose the daily volume and daily closing price of the Huaguang and New HuaGuang by the Datastream. The data period is from December 1, 2006 to June 30, 2008. I apply the concepts and methods of Rashes(2001) from Journal Finances to forecast the correlation of the stock of two similar company names from china. I find that the significantly positive correlation exists continually for a period. And this paper indicates that investors can not arbitrage in the market. This provides market an alternative to understand the importance of investor''s behavior. The managers can use this character that the investors have been influenced by the corporate name when the managers make name for company or change the name.
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Chen, Chien-Yi, and 陳倩怡. "Optimal Fleet Sizing and Safety Stocks Estimation of Unit Load Devices for Airline Company." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/74270225525280785783.
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碩士國立臺灣海洋大學
航運管理學系
97
Unit load devices (ULDs), including containers and pallets, are the standard equipment which are used to loading passenger baggage and air cargo for aircraft’s deliveries. The forecasts published by the world famous aircraft manufacturers showed that the air traffic will grow in the future, thus the airlines will need more ULDs to meet the traffic demand. This tendency makes it important for airlines to decide a right fleet scale of ULDs. The ULD fleet sizing problem is a long-term planning issue. Practically, the total ULD fleet scale in the studied company is determined by the staffs’ experience in considering the safety stock levels of airports. Therefore, how to decide the suitable safety stock level for every airport is quite important. However the studied airline lacks a planning tool in determining both safety stock level and fleet scale for ULDs. To deal with these problems, we first introduce a time-sequence network, applying the network flow equation as well as the Chebyshev Theorem to determine the safety stock level in each airport. Next we build a time-space network and formulate a mini-max integer programming model, using the mathematical programming solver CPLEX 9.0 to get a solution. The objective is to determine the least ULD fleet size that an airline needs. We execute a case study for an international airline in Taiwan to determine the safety stock level and to evaluate the model’s performance. After comparing our estimation to the airline’s safety stock level, we find that, for most airports, the estimated safety stock level is lower than that of the airline’s setting. Finally, we use the model to calculate the least ULD fleet size when the airline runs its global timetable. The suggested ULD fleet size is 4044 ULDs, about 44.14% of the airline’s current total quantities. The result shows that our model could offer a fast way to assess the economic ULD fleet scale for the airline.
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CHANG, CHIH-HAO, and 張智豪. "The Influence of the Amount of the Company Information on the Returns of the Stocks." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/x6a28z.
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Wu, Chun-Ying, and 吳純櫻. "A Study of Abnormal Return during the Deliberation Period of Emerging Stocks on Parent Company Effect." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/35060027522470180525.
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碩士中原大學
企業管理研究所
101
The main purpose of this research is to study the Public Company at Taiwan during the submission Taiwan Stock Exchange Corporation (TSEC) or GreTai Securities Market (GTSM) before become the IPO Company. There are two important dates during the IPO deliberation period, one is the application submission date and the others are the date pass the deliberation committee. Whether the stock price will impact or not depend on the resource of that majority shareholder (There are a couple of documents in this research paper regarding the majority shareholder referring from magazine, news media, security financial, investment consultant’s public papers, and the network search. The assumption is the IPOs Company supported by the stock holder who is the public company in either Taiwan or oversea. Moreover, the IPOs Company could also be supported by the third party, who is also part of the investment from the public company in Taiwan or oversea.) The sampling period in this research report is dedicated to 219 companies in between 2009/01/01 to 2011/06/30 of the application for the IPO. After the special filter process the samples is reduced to 123 companies to become the final sampling data. Via the evidence and analysis, the company of IPO has the relationship with big return effect from the majority shareholder. The abnormal return profit normally reaches the peak in either first or the second trading date, then following drop down or fluctuating afterward. In additional, the discussion in this research included the different capital size of the IPO firms, the different types of industry and different trading platforms. Only the industry of the electronics area is the exception, all others including the different capital size of the IPO firms and different trading platforms were happen from period one to ten with abnormal profit return than step toward down turn.
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Lo, Chin-wen, and 羅欽文. "A Study of the Public Issue of the Stocks of the Company Ltd. of China Mainland." Thesis, 2001. http://ndltd.ncl.edu.tw/handle/58871307194530243895.
Full textAbstract:
碩士淡江大學
大陸研究所
89
Abstract： The stock market is an important channel to link the deposit and production investment, as well as a symbol of the traditional capitalist society. The existence and development of the stock market is closely tied with the establishment of the human kind''s stock system and the development of the limited-liability companies. It has taken a long time for western countries to develop their stock systems and limited-liability companies. However, similar enterprises emerged in China mainland and Taiwan.Such organizational forms influence the future development of respective securities (mainly stock) markets. From 1949 to 1978, the public ownership was implemented through the whole China mainland. Under the ownership by the whole people, enterprises belonged to the country and the collectiveness which both contain abstract concepts. It was not until the Third Plenary Session of the Eleventh Central Committee that the Communist Party decided to carry out the reforms and the policy of opening to the world. In 1992, a strategic decision was made in the Fourteenth National Congress of Communist Party of China to establish "socialist market economy system" in China mainland. Hereafter, the planned economy is fading its color, and the market economy grabbed its crown. Since the test of stock system reform applied in 1984, the number of the company Ltd. in China mainland was increasing abruptly. After issuing stocks due to the partition of the property rights, the enterprises gradually started to exchange their stocks and issue their stocks publicly. China mainland started its stock exchange test in Shenzhen in 1989 and set up Shanghai Stock Exchange in 1990. Soon afterwards, a series of laws and regulations was made from the local government to the central government to provide the legal substratum for the stock issue and the system of the company Ltd., as well as actuate the prosperity of the stock exchanges in Shenzhen and shanghai. The Communist Party has come through hard years from its foundation to the establishment of the stock exchanges in Shenzhen and Shanghai. China Securities Regulatory Commission, Shenzhen Stock exchange and Shanghai Stock Exchange have the responsibility to supervise the securities market of China mainland. Before promulgating the Law of Securities of P.R.C., the stock issue should be examined and approved through a strict procedure named "management of planned quota", but after the issue of the law, its can be issued provided they are qualified. Due to the socialist public ownership in the past time, most of the company Ltd. were founded by transforming their original state-owned organization into limited by shares ones during the implementation of the Corporate Law(P.R.C.). Through these measures, China mainland has gradually set up a regulatory system for stock listing. Different from other stock exchanges, Shenzhen and Shanghai Stock Exchanges currently list A Shares and B Shares with different listing conditions and procedures respectively. Compared with New York Stock Exchange (NYSE) and Taiwan Stock Exchange Corporation (TSEC), the stock exchanges in China mainland differ in their organizational form, the jurisdiction of the securities regulatory unit and the stock listing procedures and conditions as well. Peculiar problems and resistance, brought by different factors such as the state-owned enterprises in China mainland, exist in the reforms of the state-owned enterprises and the establishment of a healthy stock market in China mainland. Stock issue isn’t the panacea for the enterprises to raise funds, therefore, China mainland needs to seek a root solution. After the entry of WTO for both Taiwan and China mainland, the capital market of China mainland will encounter diverse challenges and the demand for internationalization. China mainland should promptly take a grave view of these problems to genuinely amplify the capital market and establish the market economy system.
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Lan, CHEN-Hui, and 陳慧蘭. "The Study of Outsourcing Evaluation Criteria of Stocks Online Trading System in Securities Company IT Division." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/zp7gnn.
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碩士國立臺北科技大學
管理學院工業工程與管理EMBA專班
101
Stocks online trading systems have become the main driving force behind the securities trading scene as of late, constricting the profit margin enjoyed by traditional brokers. Given this trend, adjustments have been made by securities trading companies in their business strategies. With limited resources, stocks online trading systems for most companies are no longer architected in-house. These software development solutions are now outsourced, leaving the in-house IT departments with the sole task of infrastructure management and maintenance. Yet, it is not uncommon to see turbulence as the outsourcing process unfolds. The competence of the solution providers, the discrepancy in the evaluation criteria, the experience and expertise of the procurement department, and the unavailability of references regarding vendors are all factors at play in affecting the quality and efficiency of the final delivery. As far as the securities trading companies are concerned, optimizing an outsourcing transaction will be the key in enhancing their competitiveness and customer satisfaction. This study hopes to create an evaluation criteria to aid the selection process of stocks online trading system solution providers for the IT departments in the securities industry. By using the Modified Delphi Method and Analytic Hierarchy Process, 4 criterion and 24 alternatives are specifically designed in accordance with the requirements and the current needs of the securities industry. This criteria may be used to assist the selection process of stocks online trading system providers and help businesses select the best vendor and mitigate the risks, thus optimizing the quality of the outsourcing transaction.
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PING, SHEN SU, and 沈肅評. "The Biotechnology Industry Trends and the Stocks Analysis- A Case of Biotech Company Listed after 2007." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/5r9gmw.
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碩士輔仁大學
金融與國際企業學系金融碩士在職專班
103
After 2007 the “Biotech and New Pharmaceutical Development Act” been make. The encouragement policies of government and the participation of returned overseas scholars help the development of Biotech listed companies in Taiwan. And also the categories of pharmaceuticals, medical devices, health care raise capital very well. However, the investors of biotech in stock market often lack of knowledge. This may cause a lot of loss at their investment when some companies' share prices fluctuate. This study retrospect biotechnology development, starting from the United States, and then into the development of Taiwan's biotech industry. By investigating the Sharpe ratio, excess returns, we found that, on average, before the end of 2014 about half of the shares of pharmaceutical companies were with excess returns, medical equipment stocks almost all have excess return, and 70% health care stocks have excess returns. Based on the empirical results before 2014, we develop the investment strategies and verify the performance in the first quarter of 2015. The results show that the performances are not as previously outstanding. It implies that the investment on biotechnology still bears high risk. How to find out the measurements of fundamentals of good company and investment risk is still an important issue on biotech stock investment.
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Chen, Ying-ren, and 陳膺壬. "A study on intangible return and investors’ sentiment--Take technology stocks of Taiwan listed company for example." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/03852828841900889865.
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碩士雲林科技大學
財務金融系碩士班
97
The power of financial tsunami in the end of 2008 makes us experience many things that people think it is impossible to happen in financial industry. The hundred year old-established investment bank Lehman Brother, for example, goes bankrupt. Many financial industry or another industry in America present financial crisis one after another. Because confidence in this crisis was broken up, wherever the stock market is, all stock market presents illimitable falling. In relation with companies with good fundamentals also suffer from the unexpected calamity. Based on the inspiration of above events, we fell that investors’ sentiment is a key factor in the stock market.In this study, we want to investigate the relationship between the investors’ sentiment and the stock return in order to make investors can have better reference information when making investment decisions. Our samples focus on technology stocks of Taiwan listed company, because of its high weight proportion, can therefore have the high sensitivity to the market.We use the concept proposed by Daniel and Titman（2006） to measure the invisible return, and then exam the relationship between invisible return and investors’ sentiment.The empirical results show that the prior market rate of return has a positive influence on the invisible return, and the market turnover rate has a positive influence on the invisible return.
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Wu, Sheng-Chin, and 吳聖欽. "A Study on the Problem of Buying Back Stocks of Company –– Together with Discussion of Insider Trading." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/yhzn9n.
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碩士國立高雄大學
法律學系碩士班
97
Regarding the treasury stock system of Taiwan, ever since Legislative Yuan passed the amended provisions of Securities Exchange Act in three readings on Jun. 30, 2000, companies are able to legally buy back the stocks of their own companies in the open market. The purpose of companies’ buying back their treasury stocks is to stabilize and maintain the price of stocks. Generally speaking, companies’ buying back their treasury stocks has to be especially resolved by the Board of Directors beforehand. Besides, once the Board of Directors has learnt such information in the preparation procedures of a meeting or in a meeting, it is immediately regulated by the Insider Trading Restrictions as stipulated in Item 1 of Article 157-1 of Securities Exchange Act. During this time, if the persons mentioned in Item 1 of Article 157-1 of Securities Exchange Act still undergoes trading in the market, what kind of legal effect shall such trading behavior create? If the Board of Directors violates Company Act and buys back their stocks, what is the effectiveness of the buying and selling behaviors? Should the buying back of treasury stocks by the Board of Directors be resolved or restricted in shareholders’ meeting? Focusing on the companies’ buying back of their treasury stocks, the paper investigates the problems derived from treasury stocks, such as: Under which circumstances can treasury stocks be exceptionally acquired? What is the involvement area of the persons prohibited from buying or selling treasury stocks as stipulated in various subparagraphs of Item 1 of Article 157-1 of Securities Exchange Act? What is the area of important news? What is the timing for publicization of news, and what is the publicization method? What are the legal effects of the illegal trading behaviors done by anybody of the Board of Directors and by the persons mentioned in various subparagraphs of Item 1 of Article 157-1 of Securities Exchange Act? What are the civil and criminal responsibilities when Article 157-1 of Securities Exchange Act is violated? All these problems are discussed and analyzed in the paper according to the viewpoints on the practices and academic theories. The paper attempts to synthesize the above descriptions and give some humble opinions, which are hopefully helpful to the amendments of legal system in future. The paper introduces the related theories of Company Act, such as the definition of treasury stock, the reasons of restriction stipulated in Company Act of Taiwan, the exceptional acquisition area of companies, and the related area of acquisition stipulated in Securities Exchange Act, so as to understand the beginning and subsequent development of “treasury stock.” Besides, the paper investigates the position of companies’ buying back of their treasury stocks in order to review whether the regulations of Taiwan’s acts are under appropriate foundation. Focusing on the ways that companies buy back their treasury stocks, the paper discusses about the related problems of the Board of Directors and the shareholders’ meeting, and makes comments on the legal effects of the resolution flaws, so as to clarify the procedures to be observed when companies buy back their treasury stocks. Meanwhile, the paper rearranges the possible shortcomings of the existing acts indicated by different scholars. In order to lead the operation of companies to the right track, the researcher also gives some humble opinions in the paper, attempting to propose some solutions for the problems and provide some suggestions for future amendment of the related acts. The paper also discusses about the behavioral subject and behavioral object of insider trading, and observes the legislation of insider trading in foreign countries. Discussing from how the countries like Japan which adopts Statute Law, interpret the uncertain legal concepts, or from the test standards of the countries, which employ the British and American Common Law, formed through the details of the judiciary precedents, the paper makes a deeper understanding of related areas, and compare them with the existing legal stipulations of Taiwan in order to clarify the essential components and involvement area of insider trading. Finally, the paper discusses about the legal responsibilities of insider trading, including the compensation obligor bearing civil responsibilities, the persons having the right of claim, the essentials of responsibility, and the cause-effect relationship. The paper discusses about the calculation of compensation amount, and states out the criminal responsibilities of the persons having insider trading behavior in order to investigate the legal effect of insider trading.
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Kuo, Che-shao, and 郭哲韶. "Applying Six Sigma on Reducing Stocks of Finished Products – A Case study on a Powder Coating Resin Company." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/w4p3cd.
Full textAbstract:
碩士國立中山大學
高階經營碩士班
104
Powder Coating Resin industry is increasingly competitive. Besides providing reasonable prices to customers to consolidate market share, how to enhance satisfaction rate on delivery to bring extra value to the client, and how to reduce company’s Operating Working Captial (OWC) to obtain better financial results, are the two primary goals that enterprises are pursuing. Recently, global recession becomes a normal conditon and production operating rate is often times less than 100%. Under such conditions, how to successfully arrange delivery to meet customers’ needs and well control finished goods inventory becomes very crucial. Therefore, this study aims at identifying approaches for leveraging company''s earnings, customer satisfication, and asset of finished Stock. This study is conducted on using data provided by a powder coating resins producing company. Through applying Lean Six Sigma, this study investigates and analyzes the company''s historical data, between June, 2014 to December, 2015. After exploring the impacts of finished goods inventory on Operating working capital (OWC) and customer satisfaction rate of delivery, we conclude that product inventory control is an importand and imperative problem faced by the company. Furthermore, through applying DMAIC on the selected case, we identified the key factor that affects inveotry control: Top 10 products inventory quantities. With proper control of the top 10 products invenotry and the safety stock setting at 950 tons, the customer delivery satisfaction rate will reach up to 96%. It is our hope that the adopted framework can serve as a practical decision-making model which allows the Powder Coating Resins producers to optimize its month-end finished goods inventory.
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Hsieh, Kung-Chih, and 謝恭智. "The Influence of the Amount of the Company Information on the Speed of Information Transmission of the Stocks." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/ay2e8c.
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碩士正修科技大學
金融管理研究所
104
The information will directly influence investors’ behaviors and indirectly affect the price of the stocks. The objective of this paper is to examine whether the investors’ concern and decisions will affect the amount of the company’s information and then the amount of the company’s information will influence the speed of the company’s information transmission or not. The empirical findings as follows: the returns of stocks for the companies with a large amount of the company information are leading to those for the companies with a small amount of the company information in both the bull and bear market. Especially, the phenomenon is very significant in the bull market. The results imply the companies with a large amount of company’s information will have investors’ attention.
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Andargie, Abyote Abebe. "A comparison of capital rules governing financial assistance by a company in South African and English company law." Diss., 2013. http://hdl.handle.net/10500/11956.
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The Companies Act of 71 of 2008 makes a number of important changes to the rules relating to
capital maintenance. In line with the objectives of the Companies Act of 71 of 2008, section 44
of the Act has removed the prohibition on the provision of financial assistance by a company
which was contained under the previous section 38 of the Companies Act 61 of 1973. Despite the
repeal of the prohibition, a transaction which involves the provision of financial assistance by a
company for the acquisition of or subscription of its own securities still needs to be effected in
accordance with the requirements and conditions that are provided under the Act and
Memorandum of Incorporation. To explore the new developments, within this study, the
provision of financial assistance in terms of section 44 of the Companies Act of 2008 is,
therefore, analysed in detail.
On the other hand, the UK Companies Act of 2006 repealed the prohibition on the giving of
financial assistance by private companies in most circumstances. It, however, retained the
prohibition to public companies only because of the requirements of the Second Company Law
Directive (77/91/EEC). This study also explores the rules of financial assistance by a company
under the UK Companies Acts in detail.
Though the source of financial assistance by a company both in South Africa and in English
Company laws is rooted in the English decision of the Trevor v Whitworth case, currently these
countries have adopted what is deemed appropriate and significant in their own countries. This
study, therefore, examines and compares the rules governing the provision of financial assistance
by a company in the company laws of these two countries.Mercantile Law
LL.M. (Commercial law)
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Chien, Chung-Chih, and 錢忠志. "Analyzing the Factors of Inactive WIP Stocks by Using Date Mining Technique - A Case Study of Synthetic Leather Company." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/qg3736.
Full textAbstract:
碩士國立高雄第一科技大學
運籌管理研究所
105
The inventory is necessary for the business. According to sales manager and production planning, calculation of products, raw material needed to consider factors such as production and transport, in production operations continue to feed the premise of reducing inventories. How to definition of inaction WIP stocks different enterprises. In general refers to no change in the period or transaction is less than percentage. The period must be within the effective period of the material itself. The purpose of the study inactive WIP stocks period is over six month. The factors of inactive WIP stocks are usually not caused by a single factor. The inventory management of WIP stocks is managed by manual in the case. For the inactive WIP stocks can only be done after the deal. In addition to using database inventory aging data sources and match the other data sources such as the causes of the factor of inactive WIP stocks. Conditions related products in the production process. Through the method of data mining find out the factors of the inactive WIP stocks hidden in the database. Use data mining technique decision tree. It will analysis the relationship between the different factors of inactive WIP stocks to identify the factors causing inactive WIP stocks. Finally, we cans get three factors 「production quantity」,「process」and 「over-completion」. It is hope that the results of this study will provide managers with a simple and clear decision-making direction. It does not rely no past experience to judge decision-making. WIP stocks to improve the inactive problems. We expect to meet customer delivery but also can be reduce the inventory of WIP stocks. Reduce the risk of inactive WIP stocks.
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Tsai, Chun-Kwei, and 蔡俊魁. "A Study of Relation Between Financial Ratios in Publicly Held Company and Macroeconomic Factors - Evidences from Construction Industry Stocks." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/34057236226283666822.
Full textAbstract:
碩士崇右技術學院
經營管理研究所
105
ABSTRACT Title: A Study of Relation Between Financial Ratios in Publicly Held Company and Macroeconomic Factors - Evidences from Construction Industry Stocks Pages:55 School: Chungyu Institute of Technology Department: Graduate Institute of Business Administration Time: January 2017 Degree: Master Student: Chun-Kwei Tsai Advisor: Dr. Chih-Wei Chiu This study aims to discuss with the relation between financial ratios in publicly held company of construction industry stocks and macroeconomic Factors. It uses the econometric methods by descriptive statistics, Correlation Coefficient, multiple regression. A multiple regression analysis collected the Independent variable in macroeconomic Factors include economic growth rate, consumer price index, wholesale price index, monitoring indicator score; the financial index include the firm’s size, debt ratio, inventory turnover, return on assets, earning per share and sales growth rate. The de pendent variable was firm performance by Tobin’s Q. The research results were found the performance of construction industry were sensitive to the monitoring indicator. The construction industry supervisor thinks highly of return on assets and using assets efficiency , and then enhance the company value. Keywords: Construction Industry, Macroeconomic Factors, Financial Ratios, Firm Performance
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Chiu, Yao-Te, and 邱耀德. "Study in the optimization of trading policy when selecting stocks in accordance with the financial statement of the company using stocks of building-industry on TAIEX and TAISDAQ as the example." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/tdja4x.
Full textAbstract:
碩士國立中央大學
土木工程學系碩士在職專班
94
Abstract The financial statement and buying/selling technological analysis are important basis of buying and selling high-quality Stocks on TAIEX and TAISDAQ and as an optimization of selecting stock tactically, both of two has great relation in profit-making performance of investor's expectation. The information of the financial statement represents the summary of a company's performance during a certain period, and can offer the effective data which not merely diagnose enterprise's physique and earning capacity, and help to make the final decision too. Buying / selling technological analysis can indicate when to buy and sell high-quality stocks, in accordance with the hinting of its indicator, also can increase yielding rate and reduce the risk. By making systemic analysis, comparison and judgment, look out for the best time for buying and selling stocks, number of times, risk-cost controlling and the amount, allocation of investment etc., except that also can improve the way of making decision only depending on experience, feeling or hearing to buy and sell stocks by habit in the past, and investors almost can get most interest under the minimum of risk too. In this research field, if we can grasp the change of every influential parameter and limiting condition correctly, and then develop a set of ways of investing assessment according to the principle of optimization in a certain period. That can help investors to make the decision of buying and selling immediately. The model is correlated with the historical influential factors of the financial statement in the past two years, the financial report in advance of this year and the financial statements of month, season, half a year, a year. According to calculating the weighting result, we can choose three kinds of essential stocks. In order to reduce the risk and prevent from putting all eggs in one basket, we should give essential limiting conditions for those stocks, and then we can set up some proper mathematic model. Then through LINGO7.0, we can get the best dealing amount, number of times, proportion of investing allocation and get the most profit. By using the sensitive analysis and practical example, we can test its difference and learn the result, performance of this research. Therefore investors can make the best decision and predict the future change of stock price according to this research.
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WU, PEI-SAN, and 吳佩珊. "The comparison study of using Data Mining and Graham investment for the stocks of company on IC-testing and package." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/77kqax.
Full textAbstract:
碩士嶺東科技大學
高階主管企管碩士在職專班
107
Benjamin Graham is the father of Wall Street who was recognized as outstanding performance in investment. He has fairly clear rules for stock analysis. Data mining is considered as a computer science processing data analysis method. It is a computational process to discover patterns in a relatively large data set using the artificial intelligence, machine learning, statistics, and database. In this study, a rough set is a new mathematical method for dealing with collecting data. It can discover hidden knowledge and reveal potential rules through analysis and presented given data. Therefore, this study uses the rough set theory in data exploration to analyze the financial properties of Taiwan's stock packaging and testing industry from 2015 to 2016. It is decide to establish the if-then rule, and compare the difference between the correct rate of investment and the rate of return between the two investors under the rules of stock selection by the investment Benjamin Graham.
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Kiura, Dennis Kimakia. "A critical analysis of the protection of shareholders when a company acquires its own shares." Diss., 2012. http://hdl.handle.net/10500/6313.
Full textAbstract:
The capital maintenance doctrine presupposes that a company’s capital must not be returned to its shareholders. The doctrine was anchored on three rules, one of which was that a company cannot acquire its own shares as this amounted to a diversion of capital to the shareholders whose shares were acquired. This rule was partly rationalized as protecting the interests of shareholders. In South Africa the rule was embodied in s 85 of the Companies Act 61 of 1973. However, it was amended by s 9 of the subsequent Companies Amendment Act 37 of 1999 to provide that a company can acquire its own shares if certain substantive and procedural requirements were satisfied. Upon the enactment of Companies Act 71 of 2008, the requirements have not been substantially altered. They are partly geared towards protecting shareholders by ensuring that shareholders are treated equally and fairly. Moreover, the Johannesburg Securities Exchange Limited (hence the JSE Limited) was empowered by the Companies Act 61 of 1973 to promulgate requirements to be met when a company wishes to acquire its own shares. The Companies Act 71 of 2008 does not in express terms empower the JSE Limited to develop requirements to be met when a company wishes to acquire its own shares. However, the Act expressly requires that a listed company wishing to acquire its own shares must also comply with the requirements of the relevant exchange. Such requirements can therefore be deemed to subsist even amidst the new Act as an internal regulation of the JSE Limited. The said requirements are also partly aimed at protecting shareholders, largely by ensuring that adequate information is availed to shareholders to empower them to make informed decisions.Private Law
(LL.M. (Company Law))
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Chung-Feng-O and 鍾鳳娥. "A Study on The Land Reserved for Public Facilitiesand The Ulisted Company Stocks ceded to pay for The Estate and Gifts Taxes." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/44331350813077034077.
Full textAbstract:
碩士淡江大學
會計學系
91
A Study on The Land Reserved for Public Facilities and The Unlisted Company Stocks ceded to pay for The Estate and Gifts Taxes Chao Yang-Ching Chung Feng-O Abstract: The taxation system that allows estate and gifts taxes to be paid by a transfer of real estate or securities, is a specific regulation set up by our government authorities taking the unforeseen difficulties of the taxpayer into consideration. There is rare regulation to be paid by the substantive articles in the foreign countries because of consideration of Taxes being paid by the cash. In case of need, there is a very strict rule on it. However, our government authorities have revised and deregulated The Estate and Gifts Taxes allowing being paid by“the levied underlined articles”, or“other quick liquidity in cash or the substantive articles in custody”since in January 13, 1995. As the result, the range and the sorts of being paid by“the levied underlined articles”have been ever more enlarged, especially in the Reserved Land for The Public Facilities and The Unlisted Company Stocks. They become the best tools of the avoidance taxes of the rich, which lose the meaning of the policy of equal social wealth. The comments from all the social walks have criticized them so much recently. Therefore, whether the range and the sorts of being paid by a transfer of real estate or securities should be restricted strictly or not deserves our research. This study employs the questionnaire to collect the opinions from experts、scholars、 government officials and taxpayers, which discusses the regulation and the range of payment by a transfer of the real articles, the reasonableness and the justice of the Estate and Gifts Taxes allowing the reserved land and the unlisted company stocks to be ceded to pay , and the problem of the Tax Ready for payment for the Treasury, and also compares the opinions among the people of experts、scholars、government officials and taxpayers. The result of the study shows the present system of the substantive ceding should be remained, but the range of them should be downsized to some extent. At the meantime, we should not exclude The Reserved Land for The Public Facilities and The Unlisted Company Stocks as the ceding underlined articles, but on the contrary, we should realize the evaluation of the two levied underlined articles more precisely, and the allowable ceding underlined articles should be identified with their auction. Regarding the above questions, the study also offers some suggestions just for the reference. Key word: The Estate Tax, The Gifts Tax, The Reserved Land for the Public Facilities, The Unlisted Company Stocks.
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Kuan, Mu-Lien, and 關慕廉. "The analysis of abnormal returns on purchasing treasury stocks in Taiwan-listed company and the efficient verification –by using multi-factor model." Thesis, 2004. http://ndltd.ncl.edu.tw/handle/74337563456907242751.
Full textAbstract:
碩士淡江大學
財務金融學系碩士班
94
The passing of the law of treasury stock has an important meaning to Taiwan listed company. Because Taiwan-listed company can announce beneficial news by purchasing treasury stocks when their stock price are undervalued. However, the factor influencing stock returns may not the only one, so except of traditional market model, we use A model which includes market factor, size premium, book-to –market premium, and B model which includes market factor, size premium, book-to –market premium, as well as overreaction factor to check if these factors can increase the ability to explain the stock return. Our research finds that no matter what model is, the board of directors’ decision of purchasing treasury stocks will have a positive signaling effect. And in the purpose of purchasing treasury stocks, the companies who want to maintain company’s credit and stockholder’s rights will have higher cumulative abnormal returns than the companies who want to transfer the possession of stock shares to employees. Also, in the different industry, non-electronic industry’s cumulative abnormal returns is higher than electronic industry’s cumulative abnormal returns. In addition, because all models can’t reject treasury stock’s announce effect in our research period, we find that stock market in Taiwan is not a semi-strong efficient market. That is, if investors purchasing treasury stocks on announce day, in average, we can defeat TAIFEX and earn the positive return.
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Thang, Do Manh, and Do Manh Thang. "Improving Human Resources Training of Hanoi Transport Hospital Company – Joint Stock Company." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/c5sxdk.
Full textAbstract:
碩士國立雲林科技大學
企業管理系
105
Vietnam is enhancing the quality of human resources to implement industrialization and modernization of the country. And I also wish to contribute to the improvement of human resources training where I work, so I chose the topic of "Improving human resources training of Hanoi Transport Hospital Company JSC. "With this topic, the thesis was completed with such goals as Identifying basic theory of building strategies for business development and human resources training; Analyzing current situation of human resources training in the company; Recommending solutions to complete human resources training for the company. The thesis used the traditional methods of research, analysis and synthesis of secondary data. At the same time the group discussion method was also used to gather primary information. With group discussion method, author took the sample as the company's managers, human resources related managers and 20% staff of the company for the workshop. After research, analysis and assessment, the thesis proposed a system of solutions to complete human resources training for Hanoi Transport Hospital Company JSC.- This result is consistent with preset objectives.
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Teng, Lee Kun, and 李昆騰. "Company credit default risk and stock return." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/53524137387820129949.
Full textAbstract:
碩士朝陽科技大學
財務金融系
102
Abstract In recently year, many companies under poor operation cause financial failure. It would lead to stocks delisting or trading cessation, and infer investors to bear loss. Therefore, the company's default risk is concerned, so it’s an worthy and interesting issue what is appropriate evaluation model effectively to fit the company’s default scenario. The traditional model of CAPM only considers the factor of system risk. Ross (1976) finds that there are many factors that affect stock returns. Because simple system risk can’t explain stocks return completely. Furthermore, Fama and French(1993) develop the three-factor model to capture missing factors of CAPM model. The recent study of Vassalou and Xing (2004) find that default risk factor in American stock market is the system risk. They further think that the default risk adds to Fama and French model. However, is Taiwan's default risk systemic risk? In this study, we investigate whether the default risk of systemic risk or not. This study use the Taiwan listed stocks as samples and adopt CAPM, Fama and French three-factor model and adjusted four-factor model to test our proposition. In addition, we also augment leverage factor, momentum factor and liquidity factor to form our seven-factor model. Finally, apply GMM estimation method (generalized moment method, GMM) to estimate the systematic regression. The our empirical results show Fama and French three-factor model explains the ability of stock returns better than the CAPM. The adjusted four-factor model explains the ability of stock returns than Fama and French three-factor model so the default risk of the company stock returns have a good explanatory power. In generalized moment method of systematic regression, default risk and stock returns present significantly positive, default risk can explain stock return, it means the Taiwanese company is the systemic risk of credit default risk.