碩士 / 國立中央大學 / 企業管理研究所 / 99 / There are many studies about momentum strategies for explanation of abnormal profit since Jegadeesh and Titman(1993) .This paper take the point of Ebenezer Asem(2009) for reference, considering dividend policy as a factor that can influence momentum, and study in Shanghai A share and Shenzhen A share market. The finding reveals that in the short term, momentum profits of losers that pay dividends are less than losers that do not pay dividends. But in the long term, momentum profits of losers that pay dividends are exceed losers that do not pay dividends.；On the other hand, momentum profits of winners that pay dividends are exceed winners that do not pay dividends. If taking dividends increase or decrease in consideration, the momentum profits of winners’ dividends increase/decrease of Shanghai A share are roughly the same. But when the holding are short in Shenzhen A share, momentum profits of winners that increase dividends are exceed that decrease dividends. Losers that increase or decrease their dividends, theirs returns are roughly the same both in Shanghai A share and Shenzhen A share.
| Identifer | oai:union.ndltd.org:TW/099NCU05121053 |
| Date | January 2011 |
| Creators | Chen-yu Chen, 陳宥辰 |
| Contributors | Keng-Hsin ,Lo, 羅庚辛 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 106 |
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