董監事股權質押對投資人情緒之影響

Abstract

[[abstract]]本研究的目的在於討論董監事股權質押對投資人情緒之影響，針對2008年至2017年的上市上櫃公司的年資料，進行迴歸分析。本研究結果發現，董監事股權質押增加，外資及自營的投資人情緒低迷。而董監事股權質押增加，融資及融券情緒則激昂。 The purpose of this study is to discuss the effect of share collateralization by directors on Investor Sentiment. We used regression analysis by collecting the publicly traded company data from year 2008 to 2017. The empirical findings show that the collateralized shares of directors are negatively related to the sentiment of foreign investors and dealers investors, and that the collateralized shares of directors are positively related to the sentiment of financing and short selling