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    An Empirical Analysis of Value Investing Stock Selection Strategy: The Case of the aiwan Stock Market

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    本研究以價值型投資為出發點,發展出結合價值型投資與財務指標的選股策略,樣本期間為1991年4月至2009年4月,共計18年。首先第一階段先用本益比(P/E)、市價淨值比(P/B)進行價值型投資組合之分類,比較此兩種價值型投資略何者為佳,結果顯示市價淨值比所形成的價值型組合績效最好。第二階段以市價淨值比(P/B)為指標,將樣本排序,得出P/B排行榜。第三階段以下列財務指標:1.毛利率、2.流動比率、3.速動比率、4.股東權益報酬率、5.負債比率將樣本排序,得出排行榜,第四階段將第三階段之排行榜給予排名數,得出財務指標排行榜;第五階段將P/B排行榜及財務指標排行榜之排名數加總,得出總排行榜,由總排行榜中挑選出排名最佳之1/20之個股為投資組合,但每年度選出之股票以25檔為上限。此投資組合本研究稱之為物美價廉組合,將研究結果統整於下:.不同股市狀況下之分析研究提出之物美價廉選股策略所選出的股票,雖然會因股市環境的變化而受影響,但相較餘其他投資方式而言具有抗跌性,不論在空頭或多頭時期,均仍有不錯的報酬水準。.不同月份下之績效分析美價廉投資組合在不同月份下之平均月報酬率差異很大,最好的月份為元月,報酬率8.56%,最差的月份是八月,報酬率-1.56%。.不同持有期間之績效分析研究提出選出的物美價廉組合,持有期間不宜太長也不宜太短,應固定每年檢視持有的投資組合,作適當的調整和配置。最後本研究以模擬投資的方式,和其他投資策略作比較,以呈現財富累積程度的差異,結果顯示本研究所建立的物美價廉組合績效最佳,財富的累積效果最可觀,風險卻較市場組合低,因此可說是一個穩健又高報酬的投資方式。目 錄試委員會審定書....................................................i辭...............................................................ii文摘要..........................................................iii錄...............................................................iv目錄..............................................................v目錄..............................................................v壹章 緒論.........................................................1 第一節 研究動機...................................................1 第二節 研究架構...................................................3貳章 文獻回顧.....................................................4 第一節 價值型股票之定義與績效.....................................4二節 市價淨值比現象之研究延伸...................................6參章 研究方法.....................................................9 第一節 研究期間、研究對象與資料來源及取樣標準.....................9 第二節 變數選取及定義............................................10 第三節 投資策略之設計............................................14 第四節 不同持有期間、不同股市狀況之績效分析......................17 第五節 投資績效模擬..............................................17 第六節 績效衡量方式..............................................17肆章 研究結果與分析..............................................20一節 價值型投資策略之績效評估..................................21二節 以財務指標將樣本分類之績效評估............................25三節 綜合市價淨值比、財務指標形成投資組合之績效分析............27 第四節 模擬投資績效..............................................32伍章 結論與建議..................................................35 第一節 研究結論..................................................35 第二節 研究限制..................................................38三節 研究建議..................................................38考文獻...........................................................4

    Going Beyond Counting First Authors in Author Co-citation Analysis

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    The present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed

    Variations on the Author

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    “Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship

    Appropriate Similarity Measures for Author Cocitation Analysis

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    We provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis

    Dispelling the Myths Behind First-author Citation Counts

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    We conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more sophisticated methods

    Author Index

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    koamabayili/VECTRON-author-checklist: VECTRON author checklist

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    We have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used

    Author Under Sail The Imagination of Jack London, 1893-1902

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    In Author Under Sail, Jay Williams offers the first complete literary biography of Jack London as a professional writer engaged in the labor of writing. It examines the authorial imagination in London's work, the use of imagination in both his fiction and nonfiction, and the ways he defined imagination in the creative process in his business dealings with his publishers, editors, and agents. In this first volume of a two-volume biography, Williams traverses the years 1893 to 1902, from London's "Story of a Typhoon" to The People of the Abyss. The Jack London who emerges in the pages of Author Under Sail is a writer whose partnership with publishers, most notably his productive alliance with George Brett of Macmillan, was one of the most formative in American literary history. London pioneered many author models during the heyday of realism and naturalism, blurring the boundaries of these popular genres by focusing on absorption and theatricality and the representation of the seen and unseen. London created an impassioned, sincere, and extremely personal realism unlike that of other American writers of the time. Author Under Sail is a literary tour de force that reveals the full range of London as writer, creative citizen, and entrepreneur at the same time it sheds light on the maverick side of machine-age literature.Intro -- Title Page -- Copyright Page -- Dedication -- Contents -- Acknowledgments -- Introduction -- 1. Spirit Truth -- 2. From Absorption to Theatricality and Back Again -- 3. "I Will Build a New Present" -- 4. Sons as Authors -- 5. Fathers as Publishers -- 6. The Daughter as Author -- 7. Lovers as Authors -- 8. At Sea with the Family -- 9. Yellow News, Yellow Stories -- 10. The Return Home -- Notes -- Bibliography -- Index -- About Jay WilliamsIn Author Under Sail, Jay Williams offers the first complete literary biography of Jack London as a professional writer engaged in the labor of writing. It examines the authorial imagination in London's work, the use of imagination in both his fiction and nonfiction, and the ways he defined imagination in the creative process in his business dealings with his publishers, editors, and agents. In this first volume of a two-volume biography, Williams traverses the years 1893 to 1902, from London's "Story of a Typhoon" to The People of the Abyss. The Jack London who emerges in the pages of Author Under Sail is a writer whose partnership with publishers, most notably his productive alliance with George Brett of Macmillan, was one of the most formative in American literary history. London pioneered many author models during the heyday of realism and naturalism, blurring the boundaries of these popular genres by focusing on absorption and theatricality and the representation of the seen and unseen. London created an impassioned, sincere, and extremely personal realism unlike that of other American writers of the time. Author Under Sail is a literary tour de force that reveals the full range of London as writer, creative citizen, and entrepreneur at the same time it sheds light on the maverick side of machine-age literature.Description based on publisher supplied metadata and other sources.Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, YYYY. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
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