Summary: | 碩士 === 靜宜大學 === 管理碩士在職專班 === 99 === The purpose of this research is an analysis of the influences of the West Texas crude prices ( WTI ) to the stock prices of the Taiwan automobile and bike industries ( Yulon, China mobile, Hotai, Giant and Merida ). The prices of crude keep raising in recent years. There are three times of crude crises, the war between Israel and Egypt in 1973, the war between Iraq and Iran in 1980 and Gulf war in 1990. Beside these, WTI raised more than 100 in 2008 and 2011. The prices of crude changed dramatically during these periods. We tried to discuss will the fluctuations of the WTI change the decisions of the Taiwan investors. If WTI raises, the investors of automobile will take the policy of “sell out instead buy in” and the investors of bike will take the policy of “ buy in instead sell out “ We used basic descriptive analysis, unit root analysis, Granger causality test, correlation analysis and multiple regression analysis to get empirical analysis. The results show there is no relation between WTI and Yulon , but there are significant positive relations between WTI and China and Hotai motor co. This means the automobile stock prices would not be suppressed by the inflation of the crude. There are other factors influence the performance of automobile stocks, maybe the economic factors contribute the customers. There are significant positive relations between WTI and Giant and Merida. This reflects WTI raises will stimulate the investors prefer bike more.
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