台灣上市公司高低本益比影響因素之探討

NHUIR > College of Management > Department of Finance, The M.A. Program of Financial Management > Disserations and Theses > Item 987654321/29164

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Title:	台灣上市公司高低本益比影響因素之探討
Other Titles:	The Study of Factors Affecting the High and LowPrice-Earnings Ratio in Taiwan's Listed Companies
Authors:	歐臻穎 OU, CHEN-YING
Contributors:	財務金融學系財務管理碩士班白宗民 PAI, TZUNG-MIN
Keywords:	本益比;營收成長率;股東權益報酬;營收毛利率;分量迴歸 P/E ratio;Revenue growth rate;Return on Shareholders' Equity;Revenue Gross Margin;Quantile regressionto
Date:	2022
Issue Date:	2022-09-05 11:57:30 (UTC+8)
Abstract:	本研究係探討影響公司本益比之因子及其影響；研究期間為2016至2020年；以台灣上市公司為研究樣本，透過分量迴歸來分析不同本益比分量之公司其財務變數對其股票本益比之影響。實證結果顯示，營收成長率對非電子股且中低獲利以下的公司有正向影響；營業毛利率對電子股且高獲利公司有正向影響；股東權益報酬對中低獲利以下公司且高分量本益比皆為正向影響；本益成長比對中低獲利以下多為負向影響。 The purpose of this study is to explore the factors affecting Price-To-Earning Ratio(P/E ratio) on a company. The period of the data samples are the listed companies in Taiwan from 2016 to 2020. The study analyzed the financial factors’ influences on P/E ratio between different P/E ratio quantile companies by the method of Quantile regression. The findings of this study are as follows. 1. The revenue growth rate has a positive effect on the company of non-electronics industry with low earnings per share. 2. The revenue gross profit margin has a positive effect on those electronic companies with high earnings per share. 3. The Return on Shareholders' Equity has a positive effect on low earnings per share and high P/E ratio companies. 4. The P/E growth ratio has a negative effect on companies with a low earnings per share.
Appears in Collections:	[Department of Finance, The M.A. Program of Financial Management] Disserations and Theses

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