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研究生:陳姝樺
研究生(外文):CHEN, SHU-HUA
論文名稱:致股東報告書之資訊內涵關聯性研究
論文名稱(外文):The Information Content of The President’s Letter To The Firm’s Shareholders
指導教授:黃劭彥黃劭彥引用關係
指導教授(外文):Huang, Shaio-Yan
口試委員:卓佳慶邱献良邱安安
口試委員(外文):Cho, Chia-ChingChiu, Hsien-LianChiu, An-An
口試日期:2017-06-17
學位類別:碩士
校院名稱:國立中正大學
系所名稱:會計與資訊科技學系碩士在職專班
學門:商業及管理學門
學類:會計學類
論文種類:學術論文
論文出版年:2017
畢業學年度:105
語文別:中文
論文頁數:74
中文關鍵詞:致股東報告書文字探勘資訊內涵語調累積異常報酬
外文關鍵詞:The President’s LetterText MiningInformation ContentToneCAR
相關次數:
  • 被引用被引用:3
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本研究旨在探討致股東報告書之內容是否具有資訊內涵。透過文字探勘方式,使用R語言搭配EXCEL VBA進行編碼,並根據中文版LIWC辭典將致股東報告書中之文字,分為正面語調與負面語調兩類,以衡量致股東報告書之語調為樂觀或是悲觀。挑選2014年、2015年上市上櫃企業中,選取172家企業為研究樣本,針對所選樣之致股東報告書進行編碼。分析結果顯示,在年報公告日附近,無論致股東報告書語調呈現樂觀或是悲觀、獲利公司/虧損公司之致股東報告書的語調樂觀或是悲觀、或是致股東報告書語調的改變,對於累積異常報酬並無顯著相關,表示致股東報告書對於投資者並沒有資訊內涵,不是投資者做投資決策的主要參考依據。
The purpose of this study is to explore whether the content of the report to shareholders has the information content. Through the text to explore the way, the use of R language with EXCEL VBA for coding, and according to the Chinese version of the LIWC dictionary will lead to the shareholders of the report of the text, divided into positive tone and negative intonation in order to measure the tone of the shareholders report for the optimistic or Is pessimistic. Select from 2014 to 2015 listed on the OTC enterprises, select 172 companies as research samples, for the sample of the shareholders to report the code. The results of the analysis show that the tone of the shareholders' report is optimistic or pessimistic, or the change in the tone of the shareholder's report, in the event that the tone of the shareholder's report is optimistic or pessimistic, There is no significant correlation to the cumulative abnormal remuneration, that the shareholders report for the investors and no information content, not investors make investment decisions the main reference.
摘要 ii
Abstract iii
表目錄 2
圖目錄 3
第一章緒論 4
1.1研究動機與目的 4
1.2研究問題 7
1.3研究貢獻 8
1.4研究架構與流程 9
第二章 文獻探討 10
2.1 資訊內涵與文字管理 10
2.2致股東報告書 16
2.3 文字探勘 18
2.4 發展假說 22
第三章 研究方法 25
3.1 研究期間與樣本 25
3.1.1資料來源 25
3.1.2 樣本選擇 26
3.1.3 研究設計 28
3.2 文字探勘 29
3.2.1 R軟體 30
3.2.2中文斷詞 32
3.2.3 使用R語言進行資料處理程序 33
3.3 實證方法 35
3.4實證研究模型 37
3.4.1事件研究法 37
3.5研究變數 42
3.6控制變數 43
第四章實證結果與分析 47
4.1敘述性統計 47
4.2成對T檢定 50
4.3相關係數分析 51
4.4迴歸分析 53
4.4.1致股東報告書的語調與累積異常報酬率(CAR)的關係 53
4.4.2致股東報告書語調的改變與累積異常報酬率的關係 61
第五章 結論與建議 64
5.1結論 64
5.2 研究限制與建議 66
5.3 研究貢獻 67
參考文獻 69
中文文獻 69
英文文獻 71
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