查詢結果分析
來源資料
相關文獻
- 臺灣地區股票報酬率與總體經濟變數關聯性之研究--以食品類股為例
- How to Introduce "Customer Satisfaction orientation of Total Quality Management" to the Military Organization
- 臺灣股市報酬率波動性行為之探討
- 臺灣上市公司的淨值市價比現象
- 我國傳統型壽險保單之投資報酬率
- 認購權證之發行對標的股價格的影響--事件研究法之驗證
- 董監持股與上市後的報酬率
- 我國規劃國民年金保險老年年金之貨幣價值剖析
- 股市報酬與總體經濟變數跨頻譜帶之動態因果關聯
- 牙醫診所電腦化的成本效益(2)--投資報酬率、風險與折舊分析
頁籤選單縮合
題名 | 臺灣地區股票報酬率與總體經濟變數關聯性之研究--以食品類股為例=Causal Relations between Stocks Returns and Macroeconomic Variables in Taiwan--Case of Food Stocks |
---|---|
作者 | 蘇秀芬; 陳景榮; Su, Hsiu-fen; Chen, Jing-jung; |
期刊 | 東海學報 |
出版日期 | 20001000 |
卷期 | 41(農學院) 民89.10 |
頁次 | 頁83-97 |
分類號 | 563.54 |
語文 | chi |
關鍵詞 | 巢狀因果關係檢定; 食品類股; 報酬率; 總體經濟變數; Nested causality test; Food stocks; Stock return; Macroeconomic variables; |
中文摘要 | 本文主要在探討股票報酬率與總體經濟變數之間的關聯性,以瞭解影響股價變動 的因素。研究的對象是臺灣 11 家食品上市公司。總體經濟變數包括:工業生產指數、貨幣 供給額 M1a、30 天商業本票利率、 消費者物價指數、躉售物價指數、日圓兌新臺幣匯率和 美元兌新臺幣匯率。分析方法是採用巢狀因果關係檢定法進行較系統的動態關係檢定。結果 顯示食品類股票報酬率與總體經濟變數之間主要為回饋關係或單向關係,並無同期關係或獨 立關係。總體經濟變數中的物價水準約領先六期且為正向影響、美元兌新臺幣匯率約領先一 期且為負向影響及貨幣供給額約領先二期或三期且為正向影響是大部份食品類股票報酬率之 領先指標。 |
英文摘要 | The purpose of this study is to find the effectiveness of macroeconomic factors in food stocks prices. Therefore, a number of investigations were conducted in order to determine the significance of the causality relationship between food stocks return and variables. There are 11 food companies included in this study. The macroeconomic variables include: industrial production index, money supply (M1a), interest rate of 30-day commercial paper, consumer price index, wholesale price index, the exchange rate between Japanese Yen and NT dollars, and the exchange rate between US and NT dollars. A nest causality testing method was proposed to identify the dynamic relationships between stock return and variables. The results indicated that the relationships between stock return and variables had feedback or unidirectional relations, but they didn't have independent or contemporaneous relations. The price level was a leading indicator and had positive effect to the stocks return about six months. The exchange rate between US and NT dollars was a leading indicator and had negative effect to most of companies stocks return in one month. Also, the money supply was a leading indicator and had positive effect to stocks return, but only leading in two or three months. |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。