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研究生:張智揚
論文名稱:台灣共同基金持股的媒體報導對資金流量之影響
論文名稱(外文):The Effect of Media Coverage on Fund Flow: Evidence from Mutual Fund Holdings in Taiwan
指導教授:陳信憲陳信憲引用關係
口試委員:王南喻陳美華陳信憲
口試日期:2016-06-06
學位類別:碩士
校院名稱:國立彰化師範大學
系所名稱:財務金融技術學系
學門:商業及管理學門
學類:財務金融學類
論文種類:學術論文
論文出版年:2016
畢業學年度:104
語文別:中文
論文頁數:48
中文關鍵詞:媒體報導基金持股資金流量訊息觀點顯著性觀點
外文關鍵詞:media coveragefund holdingscapital flowsinformation viewsalience view
相關次數:
  • 被引用被引用:0
  • 點閱點閱:129
  • 評分評分:
  • 下載下載:0
  • 收藏至我的研究室書目清單書目收藏:1
本研究透過聯合知識庫逐筆蒐集在經濟日報與聯合報當中被媒體報導的基金持股,進而探討被媒體報導的基金持股對資金流量的影響,以及探討在基金持股的訊息處理上是受到訊息觀點影響或者是顯著性觀點的影響,樣本建立起始於2013年1月1日到2015年12月31日(含)之間,包含於台灣經濟新報(TEJ)共同基金數據庫中的157檔國內股票型基金資料。實證結果顯示,投資人對媒體報導的基金持股偏好對流量有顯著的影響,且基金持股被媒體報導的比例越高也會越顯著影響資金流量;以及投資人對媒體報導的基金持股偏好是受到顯著性觀點影響,醒目地刊登在媒體標題的基金持股對資金流量有非常強烈的效果。
This study examines the effect of media coverage of fund holdings on the capital flows. Besides, it also explores the information processing about fund holdings is affected by information view or salience view. In this paper, the data of media coverage of fund holdings are collected through Economic Daily News and United Daily News. This study uses a sample of Taiwan equity mutual funds from January of 2013 to December of 2015 and it totally includes 157 equity funds. The empirical results show that there is a significant effect of investors’ preference to media coverage of fund holdings on capital flows. In addition, the higher the proportion of fund holdings that are reported, the more significant the effect on capital flows. Furthermore, investors’ preference to media coverage of fund holdings is affected by salience view. There is a strong effect of fund holdings, which appeared on the headlines, on capital flows.
第壹章緒論 1
第一節研究背景與動機 1
第二節研究目的 5
第三節研究限制 5
第四節研究架構 6
第貳章文獻探討 8
第一節媒體報導 8
第二節訊息觀點與顯著性觀點 9
第参章研究方法 12
第一節資料來源與說明 12
第二節研究方法與變數衡量 13
第肆章實證結果分析 16
第一節敘述性統計 16
第二節媒體所報導的持股對共同基金流量的效應 19
第三節媒體報導的數量對共同基金流量的效應 22
第四節媒體報導的時間對共同基金流量的效應 24
第五節基金持股的訊息豐富性和顯著性 26
第伍章結論與建議 31
第一節結論 31
第二節建議 32
參考文獻 33
附錄 39

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