The Effect of Oil Price Adjustment on Taiwan''s Industry Stock Price Index
碩士 === 朝陽科技大學 === 財務金融系碩士班 === 96 === This research was carried out by using Event Study to study the effect of oil price adjustment of CPC on Taiwan’s main industry stock price index during April 2002 to end of 2007. The result indicated that, on announcement date, the standardized average abnormal...
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ndltd-TW-096CYUT53040502015-11-27T04:04:14Z http://ndltd.ncl.edu.tw/handle/42774511662597202829 The Effect of Oil Price Adjustment on Taiwan''s Industry Stock Price Index 中油調價對台灣主要類股之影響 Yu-Ju He 何玉如 碩士 朝陽科技大學 財務金融系碩士班 96 This research was carried out by using Event Study to study the effect of oil price adjustment of CPC on Taiwan’s main industry stock price index during April 2002 to end of 2007. The result indicated that, on announcement date, the standardized average abnormal returns of main industry stock were not noticeable. However, the standardized cumulative average abnormal returns of other industries were presented positive returns expect information and electronic industry which showed the opposite way. The sample had been divided into bull and bear period. The research found that, the increased oil price of CPC has more effect than the decreased price. The situation was more noticeable, particularly when the oil price of CPC adjustment period in bull market. By analyzing the frequency of obvious effect, plastics & chemical industry was the most frequent, followed by information and electronic industry, textile industry, transportation index, food industry and then steel metal industry. Therefore, this is clear to see that plastics & chemical industry has the most effect on the adjustment of CPC’s oil price but steel metal industry has the least. In addition, according to analyze of abnormal return of other main industry, it showed that, during textile industry and steel metal industry’s bear period, the decreased CPC’s oil price had higher the oil industry stock return rate. In bull period, the increased CPC’s oil price had higher the oil industry stock return rate of plastics & chemical industry, textile industry and transportation industry than the decreased price. Chien-Hung Chen 陳建宏 2008 學位論文 ; thesis 81 zh-TW |
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碩士 === 朝陽科技大學 === 財務金融系碩士班 === 96 === This research was carried out by using Event Study to study the effect of oil price adjustment of CPC on Taiwan’s main industry stock price index during April 2002 to end of 2007. The result indicated that, on announcement date, the standardized average abnormal returns of main industry stock were not noticeable. However, the standardized cumulative average abnormal returns of other industries were presented positive returns expect information and electronic industry which showed the opposite way.
The sample had been divided into bull and bear period. The research found that, the increased oil price of CPC has more effect than the decreased price. The situation was more noticeable, particularly when the oil price of CPC adjustment period in bull market. By analyzing the frequency of obvious effect, plastics & chemical industry was the most frequent, followed by information and electronic industry, textile industry, transportation index, food industry and then steel metal industry. Therefore, this is clear to see that plastics & chemical industry has the most effect on the adjustment of CPC’s oil price but steel metal industry has the least.
In addition, according to analyze of abnormal return of other main industry, it showed that, during textile industry and steel metal industry’s bear period, the decreased CPC’s oil price had higher the oil industry stock return rate. In bull period, the increased CPC’s oil price had higher the oil industry stock return rate of plastics & chemical industry, textile industry and transportation industry than the decreased price.
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author2 |
Chien-Hung Chen |
author_facet |
Chien-Hung Chen Yu-Ju He 何玉如 |
author |
Yu-Ju He 何玉如 |
spellingShingle |
Yu-Ju He 何玉如 The Effect of Oil Price Adjustment on Taiwan''s Industry Stock Price Index |
author_sort |
Yu-Ju He |
title |
The Effect of Oil Price Adjustment on Taiwan''s Industry Stock Price Index |
title_short |
The Effect of Oil Price Adjustment on Taiwan''s Industry Stock Price Index |
title_full |
The Effect of Oil Price Adjustment on Taiwan''s Industry Stock Price Index |
title_fullStr |
The Effect of Oil Price Adjustment on Taiwan''s Industry Stock Price Index |
title_full_unstemmed |
The Effect of Oil Price Adjustment on Taiwan''s Industry Stock Price Index |
title_sort |
effect of oil price adjustment on taiwan''s industry stock price index |
publishDate |
2008 |
url |
http://ndltd.ncl.edu.tw/handle/42774511662597202829 |
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