| Summary: | 碩士 === 國立高雄應用科技大學 === 金融資訊研究所 === 96 === The aim of this paper is to examine the interaction between Taiwan Real Estate Investment Trusts (T-REITs) and financial variables. Being usually influenced by exogenous shocks or regime change in crucial economic or social events, the structural breaks are a general problem in macroeconomic series. For examining the issue of whether regime changes have broken down the stability of the long-run relationships between T-REITs and financial variables, besides the traditional tests , the unit root tests allowing for a structural break, offered by Zivot and Andrews (1992)、two structural breaks, offered by Lee and Strazicich (2003), the cointegration tests allowing for a structural break, offered by Gregory and Hansen (1996), and fully modified OLS, proposed by Hansen (2002), are used to execute the long run equilibrium relationship between the financial variables and T-REITs.
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