Responsive image
博碩士論文 etd-0617114-202315 詳細資訊
Title page for etd-0617114-202315
論文名稱
Title
台灣上市櫃電子業財務績效優劣臨界值分析探討
An Indentification of the Critical Value in Evaluating Financial Performance for Listed Electronic Companies in Taiwan
系所名稱
Department
畢業學年期
Year, semester
語文別
Language
學位類別
Degree
頁數
Number of pages
50
研究生
Author
指導教授
Advisor
召集委員
Convenor
口試委員
Advisory Committee
口試日期
Date of Exam
2014-06-16
繳交日期
Date of Submission
2014-07-18
關鍵字
Keywords
財務指標、信用、投資
investment, credit, financial performance
統計
Statistics
本論文已被瀏覽 5803 次,被下載 66
The thesis/dissertation has been browsed 5803 times, has been downloaded 66 times.
中文摘要
值此低利時期,投資工具適當與否攸關續後財富之重分配。投資人仍多數選擇有價證券作為投資標的,但因其流動性高致投資風險亦高,因此,如何協助眾多投資人慎選投資標的及投資指標,為本研究欲探討主題之一。
其次,企業於經營過程中均或多或少會運用融資槓桿籌措資金,專職放款之金融機構如未事先審慎評估企業融資風險高低,一旦企業違約倒帳將使金融機構蒙受鉅額呆帳損失,因此,如何協助金融機構就財務指標判讀企業融資風險高低,為本研究另一出發點。
本研究探討股票價格高低與何項財務績效指標相關性較高,採用統計學相關係數作為研究股價高低與財務指標相關性研究工具,經選取交易比重最重之電子業過去20年分季資料實證,實證結果,股票價格高低與每股盈餘最具相關性。
本研究擬界定優質財務指標及劣質財務指標供金融機構作信用評估,採用統計學分位數法及信賴區間法作為優質財務指標及劣質財務指標臨界值,供投資人選股及金融機構放款參考。並以統計學差異檢定法予以檢測兩方法所選取樣本群組,其投資報酬率是否存在顯著差異,經實證結果,兩方法所選取之投資標的,其投資報酬率並無顯著差異。
Abstract
The interest rate is very low now. An investment instrument with high return ensures wealthy future absolutely. In Taiwan, a lot of investors invest in securities market. But, securities are high risk investment instruments, resulting from high liquidity. So, one purpose of the study is trying to help investors in Taiwan to select right security for investment.
Secondly, an entity finances their operating funds from financial institutes. If the institutes do not review and control the credit risk in advance, bad debt loss occurs immediately. The other purpose of the study is trying to help the financial institutes to define the critical value of better and worse financial performance. So that, the financial institutes could have a criteria for judging credit risk.
The study also analyze the relationship between stock price and financial performance. The study tries to understand what financial performance is related to stock price mostly. And that surely will help investors to select securities to own. The study applies relationship coefficient to analyze the relationship between stock price and financial performance. The samples are listed electronic companies in Taiwan for the past twenty years. As a result, the most related factor relating to stock price is earnings per share.
In the meantime, the study tries to define the criteria as a better financial performance, and a criteria as a worse financial performance. So that the financial institutions could use the criteria to review the credit risk before issuing a loan to the debtor. The study applies two methods to define the better and worse criteria .One is percentile method. The other is confidence interval method. The study concerns that is there existing significant difference between two methods. So the study applies z test to test the average investment return rates of the samples selected under each method to ensure that there is no significant difference between two methods
目次 Table of Contents
學位論文審定書 i
中文摘要 ii
英文摘要 iii
目錄 iv
表目錄 v
圖目錄 vii
第一章 緒論 1
第一節 研究動機 1
第二節 研究目的 2
第三節 研究流程 3
第二章 文獻探討 5
第一節 財務指標 5
第二節 統計相關指標 7
第三章 研究設計 10
第一節 研究期間及資料來源 10
第二節 變數定義 10
第四章 實證結果 13
第一節 股票價格與各財務指標相關性實證 13
第二節 八大分類電子業各財務指標優劣臨界值實證 18
第三節 一倍標準差信賴區間臨界值與分位數優質財務指標差異檢定 37
第五章 結論與建議 39
參考文獻 41
參考文獻 References
一、 中文文獻
1. 沙舒城,李鑫編著(2009),「大眾投資理財指南(一版 )」,中國四川,西南財經大學出版社
2. 林彩蕙(2013),「財務分析師股票推薦投資報酬之實證研究」,國立台灣科技大學博士論文
3. 姜樹宇(2010),「以本益比法為指標之交易策略在臺灣股票市場之實證研究」,國立交通大學碩士綸文
4. 陳隆麒(2004 ),「當代財務管理(2版)」,台北市,華泰文化公司
5. 戴久永( 2010 ),「統計學(初版)」,台北市,新頁圖書
6. 謝劍平( 2012 ),「財務報表分析(3版)」,台北市,智勝文化公司
7. 謝劍平(2011 ),「現代投資學(5版)」,台北市,智勝文化公司
二、 英文文獻
1. David Freedman, Robert Pisani and Roger Purves (1998): Statistics. New York, Norton & Company.
2. Joanes, D. N. & Gill, C. A. (1998): “Comparing measures of sample skewness and kurtosis.” Journal of the Royal Statistical Society (Series D): The Statistician 47 (1), 183–189.
3. Peter Lynch (1989): One Up on Wall Street. New York, Penguin Books paperback.
4. Peter Lynch (1994): Beating the Street. New York, Fireside/Simon & Schuster paperback.
電子全文 Fulltext
本電子全文僅授權使用者為學術研究之目的,進行個人非營利性質之檢索、閱讀、列印。請遵守中華民國著作權法之相關規定,切勿任意重製、散佈、改作、轉貼、播送,以免觸法。
論文使用權限 Thesis access permission:自定論文開放時間 user define
開放時間 Available:
校內 Campus: 已公開 available
校外 Off-campus: 已公開 available


紙本論文 Printed copies
紙本論文的公開資訊在102學年度以後相對較為完整。如果需要查詢101學年度以前的紙本論文公開資訊,請聯繫圖資處紙本論文服務櫃台。如有不便之處敬請見諒。
開放時間 available 已公開 available

QR Code