台灣56定存股投資績效探討

The Investment Perfromance of Deposit Stocks In Taiwan 56

胡漢生(Han-San Hu)

指導教授 ： 紀宗利

義守大學/管理學院/財務金融學系/碩士(2019年)

摘要

在這個快速變遷的時代，投資人無法有效地掌控市場變化，而銀行定存的利率太低，投資股票的風險又太高，巴菲特投資法歷來均被許多投資人奉為圭臬，而存股術在近來也逐漸在台灣開始流行，推崇者多認為其績效可輕易大打敗定存利息，但卻未能清楚指出存股標的物的選取標準。
本研究主要探討在長時間下，以固定資金投資穩定發放股息股利之公司，在台灣股票市場中之投資績效，其次驗證各標的之投資績效是否均有優於大盤的表現，研究期間從2007年到2017年止。研究結果顯示，高殖利率的股票並不保證能夠穩定獲利，而是績效優良穩定發展之股票才有良好的收益；會受到景氣循環之股票收益也不適合當作定存股標的。

關鍵字

存股 ； 年化報酬率

並列摘要

In this era of rapid change, investors cannot effectively control changes in the market. The bank deposit rate is too low and the risk of investing in stocks is too high. Buffett’s investment laws have been look upon as a model believe in many investors. Shareholding became more and more popular in the Taiwan’s market. Many investors thought that its performance outweigh the fixed deposit interest, but they could not specify the rule of selecting stocks.

This research focuses on the investment performance of companies for a long time that have steadily paid dividends to stockholders in the Taiwan stock market, and then verified whether the investment performance of each stock is superior to the market. This study is start from 2007 and at the end of 2017. The results of the research provide that high-yielding stocks will not guarantee stable profitability. The stock in good and stable performance will bring great benefits for investors. Moreover, the stock which will easily be affected by business cycle are not suitable as targets.

並列關鍵字

Deposit stocks ； Exchange Traded Funds ； Annualized return

參考文獻

一、中文部分：

洪瑞泰(2004)。巴菲特選股魔法書。台北市：Smart智富。

雷浩斯(2013)。雷浩斯教你小薪水存好股又賺波段。台北市：Smart智富。

雷浩斯(2017)。雷浩斯教你矩陣式存股法年賺18%。台北市：Smart智富。

老農夫(2016)。老農夫的存股複利公式。台北市：Smart智富。