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Building on the existing framework of educational returns in South Africa, this quantitative study uses statistical data from the Quarterly Labour Force Surveys for the years 2008-2018 with the aim to research educational returns on employment in South Africa. Findings from the logistic regressions models used indicate that tertiary education is essential for employment, and that returns for each additional school year below grade 12 are moderate. In addition, the Coloured and Black population groups receive lower returns than the White population group, and men have higher returns than women. By running independent regressions, new observations occurred that impact some race and gender combinations while being moderate for others, which contributes to the research on education and employment in South Africa.

本研究探討台灣新上市股票是否有超額報酬之存在，並進一步探討超額報酬與其影響因素之關係：是否因為內部人持股比例高低，公司最近三年平均每股盈餘，負債比例高低，承銷價格高低，公司總資產大小，公司最近三年淨利變化，上市之後一年之內是否辦理現金增資而有所差異。本研究主要探討新上市公司，其新上市短期與長期異常報酬的解釋因素。 / This sutdy mainly employs empirical methodology. The sample period convers from 1987 to 1995, including 195 samples. The unerpricing regress against EPS (earnings per share), average earning growth rate, debt/equity ratio, firm's size , changes in ownership structure, seasoned new issues within one year subsequent to the IPO (dummy variable), and lottery rate. The findings indicate that the underpricing significantly (95% significant level) correlates with EPS, firm's size, and lottery rate.