| Summary: | 博士 === 雲林科技大學 === 管理研究所博士班 === 97 === A procedure is based on bio-energy concept stocks and consists of two dimensions: (1) Group A, the relationship among the bio-energy company stock index in Taiwan, wheat futures, corn futures, soybean futures, crude oil spots, and Baltic dry index (BDI), and (2) Group B, the relationship among the bio-energy company stock index in Taiwan, TAIEX, DJI, Nikkei 225 and SSE composite index. Two phases are divided into (1) a "full phase" from January 1, 2005 to March 11, 2008, and (2) a "short-run phase" from September 4, 2007 to March 11, 2008 for a comparison of the bio-energy company stock index in Taiwan. The results indicate: (1) long-run stable equilibrium relations are maintained, and (2) for short-run interactions, generally speaking, the relationships in Group B, the relationship among the bio-energy company stock index in Taiwan, TAIEX, and major international stock indices, are closer than those in Group A, the relationship among the bio-energy company stock index, wheat futures, corn futures, soybean futures, crude oil spots, and BDI, though impulse responses imposed by corn increase significantly for the short-run phase.
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