台灣上市公司內部人交易效應之研究

NCUIR > School of Management at National Central University > Graduate Institute of Business Administration > Electronic Thesis & Dissertation > Item 987654321/11352

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Title:	台灣上市公司內部人交易效應之研究
Authors:	簡瑞廷;Chuang-Ting Jian
Contributors:	企業管理研究所
Keywords:	內部關係人;內部人交易;積異常報酬;事件研究法
Date:	2001-06-20
Issue Date:	2009-09-22 14:19:38 (UTC+8)
Publisher:	國立中央大學圖書館
Abstract:	研發活動不僅能促進新產品發展, 更是提昇企業獲利率與競爭力的重要因素之一, 尤其目前高科技產品的生命週期越來越短, 技術的複雜度日益升高, 因此高科技產業必須更重視及加強組織的研發能耐以獲得有效率及效能的研發成果。國內外先前研究對影響組織研發能耐與研發績效發展出各種的衡量指標, 本研究嘗試將這些衡量指標以二階驗證性因素分析簡化成單一構面。然後再進一步構建組織研發能耐與研發績效間完整的因果關係模式。本研究利用王思佳(2000)研究高科技產業的次級調查資料進行實證研究, 研究結果顯示, 組織研發能耐與公司的研發過程、研發組織、研發策略、公司文化、高階承諾間有顯著正向關係; 研發績效與顧客績效、財務績效、公司整體績效有顯著正向關係, 而與技術績效間不顯著。此外, 實證結果顯示組織研發能耐與研發績效間有顯著的正向關係, 即組織研發能耐愈強, 則企業的研發績效愈高。因此高科技產業追求高研發績效時, 必須先強化企業本身研發能耐各構面的表現, 針對弱點進行改善, 使研發創新為企業帶來最大的利益。 The first purpose of this paper is to discuss that if insider trades have higher Performance or not. The second of purpose is trying to explain the motivation of insider trading. We find that the accumulated return rates of insider buying trades are higher than insider selling trades. According to the long-run operating performance, buying trades have higher EPS, ROA, and ROE than selling trades. Finally, before insider trading, there is really opposite trend in stock market. Insiders are likely to buy stocks if the company is traditional industry, in the later period, bear market, or lower CAR at last season.
Appears in Collections:	[Graduate Institute of Business Administration] Electronic Thesis & Dissertation

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