碩士 / 長庚大學 / 商管專業學院碩士學位學程在職專班財務金融組 / 104 / After the financial crisis, Taiwanese investors have shown a substantial increase in bond fund investments, particularly in the high-yield bond fund. The increase of interest in the purchase of high-yield bonds has also led to an increase in investment disputes. In order to protect the investors, the Financial Supervisory Commission regulates and put in place warning signs. ”Past performance does not guarantee a future of high performance funds ”initiates the study motivation.
The standard measure of the fund performance for the net rate of return, then using t-test after a period of performance to predict the performance of the previous one, testing whether the performance is persistent and true to the phenomenon.
Conclusion of this study can be summarized as follows: first, the performance of high yield bonds funds, regardless of short or long-term sustained significant presence of stability; and therefore investors may rely on performance trends as an investment clues to selecting bonds, but one should consider the exchange rate risk, when investing in non-domestic currency denominated foreign bonds, once the country's currency devalues this will impact their investments, on the other hand, if the currency is in appreciation this will increase investment profits.
| Identifer | oai:union.ndltd.org:TW/104CGU05304001 |
| Date | January 2015 |
| Creators | Hsiu Wen Lin, 林秀玟 |
| Contributors | C. H. Chang, 詹錦宏 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 78 |
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