查詢結果分析
來源資料
相關文獻
- Is the Relationship between Stock Returns and Economic Growth Disappearing? A Cross-Sectional Analysis
- 金融發展與經濟成長的關係會消失嗎?--門檻迴歸模型之應用
- 金融發展、經濟成長與通貨膨脹的門檻效果
- Military Spending and Economic Growth: An Empirical Study with Data in the OECD Countries, 1953-1982
- 總體經濟--從支出面結構看明年經濟成長率
- Association between Price Limit and Stock Returns: Influences and Implication for Market-Based Research
- 經濟成長與財政平衡可以兩全其美
- 人口成長與經濟成長的關係
- 臺灣經濟最近情勢:經濟成長
- 臺灣經濟倫理的演變與重建
頁籤選單縮合
題名 | Is the Relationship between Stock Returns and Economic Growth Disappearing? A Cross-Sectional Analysis=股價報酬與經濟成長的關係是否會消失?跨國橫斷面的實證分析 |
---|---|
作者 | 李源明; 黃柏農; 王冠閔; Lee, Yuan-ming; Huang, Bwo-nung; Wang, Kuan-min; |
期刊 | 交大管理學報 |
出版日期 | 20091200 |
卷期 | 29:2 2009.12[民98.12] |
頁次 | 頁163-199 |
分類號 | 563.53 |
語文 | eng |
關鍵詞 | 橫斷面資料; 股價報酬; 經濟成長; 門檻迴歸模型; Cross-sectional data; Stock returns; Economic growth; Threshold regressive model; |
中文摘要 | 本文利用49個國家1960年至2003的橫斷面資料,建構門檻迴歸(Threshold Regressive; TR)模型,重新檢驗Binswanger(2004)的發現,即股價報酬與經濟成長之間關係可能會消失。實證結果發現,利用不同的樣本期間進行檢驗,不僅發現高所得國家股價報酬與經濟成長之間同樣具有顯著的正相關,低所得國家也會有相同的現象。因此我們認為,Binswanger(2004)利用線性模型進行估計與檢定,發現股價報酬與經濟成長之間相關性消失的現象並不完全正確,從本文的實證結果可驗證兩者之間關係的消失,僅出現在高所得國家的體制內。 |
英文摘要 | By employing the cross-sectional data of 49 countries from 1960 to 2003 and constructing the threshold regressive (TR) model, this study re-examines the finding of Binswanger (2004) that the relationship between the stock returns and economic growth is disappearing. Our empirical results from various sample periods indicate that the significantly positive relationship between the stock returns and economic growth exists in both high-income and low-income countries. From our findings we conclude that the empirical result from a linear estimation of Binswanger (2004) is only partially correct. Our findings show that the disappearing relationship only exists in high-income countries. |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。