The study on the Relationship between Macroeconomic Factors and Stock in America, China, Taiwan

• Main Authors: Yen-Chiu Lai, 賴彥求
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/35783040154145708420

碩士 === 雲林科技大學 === 企業管理系碩士班 === 96 === The goal of study is investigation for the relationship between macroeconomic factors and stock in America, China, Taiwan. The variable data come from Taiwan Economic Journals (TEJ). The data from every month are 204 samples during January, 1991 to December, 2007. First, given the fact that stock index and other macroeconomic factors have endogenous problem. Then it’s without endogenous problem after unit-root processes. I adopt the analysis of correlation, analysis of variance, multiple regression to examine the hypotheses. The results are as follows: 1.the negative variation between stock index and consumer price index(CPI) in America, negative variation between stock index and exchange rate in China, negative variation between stock index and exchange rate in Taiwan, positive variation for stock index versus industry product index(IPI), supply of money in Taiwan. 2.For stock variation, the positive relationship America and Taiwan. 3.In China, the stock index variation under fixed exchange rate is more moderate than no fixed. 4.The regression model of Taiwan is more explained effect than other countries.