本論文分析臺灣期貨市場當沖交易的交易概況，探討不同類別投資人的獲利能力，以及影響當沖報酬的因素。研究結果顯示，台灣期貨市場的當沖交易非常活絡，平均當沖交易占總交易量的74.71%，而個別投資人為主要的參與者，占了當沖交易的66.68%。而先賣當沖可獲得比先買當沖更多的報酬，40.16%的先賣當沖，其當沖報酬可以超越當日的市場報酬。在交易獲利方面，整體而言，平均每筆當沖交易投資人會有-111.55的虧損，以投資人類別分類後可以發現，和股票市場有很大的不同，有52.23%的個別投資人可以在當沖交易中獲利，而投信只有21.04%。整體投資人績效方面，在考慮交易成本後，只有外資可以獲得正報酬，相較其他投資人具有資訊優勢，而自營商和投信的績效則比個別投資人差，並不具有資訊優勢。 交易量分析方面，平均而言，在研究期間內交易量小於10筆的投資人可以獲得較高的報酬，而交易量大於10000的投資人則有小幅度的虧損。在單獨分析波動度較大的交易日中，發現投資人在這些交易日中可以獲得比平常更多的報酬。我們進一步去分析在研究期間內績效表現較好的投資人，發現他們平均的交易量只有12.65筆，這類投資人並不傾向先買和先賣當沖，但是傾向一天只從事一種當沖交易，但先賣當沖的報酬仍然會多於先買當沖。這些投資人的報酬有集中於波動度大的交易日的趨勢，而交易時間比般人的交易時間要來的長，平均一筆交易為91到96分鐘，而整體投資人的交易時間約為48到50分鐘。 在迴歸模型中，我們發現市場報酬、交易量、時間、投資人過去績效對於當沖報酬都有顯著的解釋能力，然而，交易時間對於報酬卻是負向的關係。在解釋力方面，先賣當沖的解釋力較先買當沖好，而超額報酬模型的解釋力較當沖報酬模型好。 / When an investor buys and sells the future on the same day, he was made a day trade. This thesis studies the performance of day trades in the Taiwan Furtures Exchange(TAIEX) for the period between July 2006 and December 2006. Day trading accounts for 74.71% of total trading activities, of which individual investors account for 66.68% of the day trading volume. The results showed that sell and then buy day trading can earn more profits than buy then sell day trading, about 40.16% of the sell and then buy day trading can earn more profits than market return. In aggregate, day traders earn mean gross profits(before transaction costs) of $NT 199 per transaction, but net losses(after a reasonable accounting for transaction costs) of $NT 111 per transaction. After we categorize day traders, we find that about 52.23% of the indiviual investers can profit by day trading activities, and only foreign investors can earn sufficient profits to cover transaction costs. To analyze the performed better investers, we find that their average trading volume only have 12.65 within half year, they don’t tend to sell and then buy day trading or buy then sell day trading, but they tend to engage one kind of trading in one day, and sell and then buy day trading can earn more profits than buy then sell day trading. Their trading time is longer the others, about 91 to 96 minutes, other traders’ trading time only about 48-50 minute. Overall, the evidence suggests that market returns、trading volume、trading time and past profitablilty have a strong relation with subsequent returns, day traders who historically earned profits continue to earn profits. The statistical power of sell and then buy regression model is stronger than buy then sell regression model.

No description available.

This is an empirical study which a/ describes and evaluates the role of day centres with regard to young people with physical impairments aged between 16 and 30, b/ describes and evaluates the interactions between users and staff within the day centre environment, c/ outlines and assesses the level of user participation in the centres with reference to activities, the decision making process and control, and d/ suggests a set of policy recommendations which are applicable to both the service studied and day services generally for this user group. Four ideal types of day centre for the younger physically impaired are identified. All are criticised on the basis that they are inherently segregative, emphasize difference and perpetuate stigma. Within this context day centres are perceived as the 'dumping ground' for those people who are excluded, because of physical impairment, from the normal social and economic life of society. Empirical evidence to support this view is provided firstly by the overtly negative features of the general organization and admission policies of the system studied, secondly by the degree of social and economic disadvantage experienced by the users interviewed prior to day centre use, and thirdly by the manner in which they were similarly labelled and 'directed' toward the centres. I argue that day centre use reinforces disadvantage because a/ although helper/helped relations within the system are viewed positively by both users and staff, user participation and control of services is low and, b/ while the system provides a range of facilities which give many users a level of self determination unavailable in the community at large, its capacity to extend those experiences beyond the day centre boundary is limited to only a few. Consequently attendance for the majority will be long term. I list a number of recommendations, including the formulation of a national policy clarifying the role of day services for this user group, which might help to alleviate this problem. I conclude that present policies which successfully disable young people with impairments are no longer simply socially unacceptable. They are economically inept.

No description available.

Thesis (M.S.)--Eastern Illinois University, 1989. / Includes bibliographical references (leaves 53-60).

Thesis (M.A.)--University of Toronto, 2004. / Adviser: Michal Perlman.

Thesis (Ed. D.)--University of Washington, 2008. / Vita. Includes bibliographical references (leaves 107-113).

Thesis (Ph. D.)--University of Texas at El Paso, 2008. / Title from title screen. Vita. CD-ROM. Includes bibliographical references. Also available online.

Thesis (M.A.)--Virginia Polytechnic Institute and State University, 1994. / Vita. Abstract. Includes bibliographical references (leaves 79-85). Also available via the Internet.

Thesis (M.S.)--University of Wyoming, 2009. / Title from PDF title page (viewed on Apr. 15, 2010). Includes bibliographical references (p. 42-45).