美國晶片管制措施對三星概念台廠股價之異常報酬影響

The Impact of the U.S. Department of Commerce's Chip Control Measures on Samsung-related Concept Stocks in Taiwan

This study employs an event study approach to examine the impact of the U.S. Department of Commerce's implementation of chip control measures on concept stocks related to Samsung's Taiwan factories. The study investigates whether these measures result in abnormal returns in the semiconductor industry sector and whether there is any evidence of early leakage of merger and acquisition information. The test results indicate that the chip control measures implemented by the U.S. Department of Commerce have a significant but not strong effect on the stock prices of Samsung-related concept stocks in Taiwan. From ten days prior to the event until the event day, and from the event day to the fifth day afterward, investors' reaction to the U.S. Department of Commerce's sanctions is not substantial. Overall, the abnormal returns are not significant, suggesting that market investors are attentive to these chip control measures but have not taken significant actions. As the measures do not directly impact Samsung's factories in Taiwan, they have not triggered massive sell-offs of Samsung-related concept stocks.