The Effect of Macroeconomic Factors'' changement on Earnings of Textile Industry in Taiwan─ Application of Non-linear Model

• Main Authors: Jhen-Yu Hong, 洪振宇
• Other Authors: Chieh- Chung Nieh
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/vdbefs

碩士 === 淡江大學 === 財務金融學系碩士班 === 101 === The main purpose of this study is to understand the changes in macroeconomic variables on the impact of Taiwan''s textile industry profitability. Global variables use oil prices, exchange rates, unemployment rate and inflation rates, and under the control of industrial scale to use Taiwan''s GDP as the threshold variable to study changes in the macroeconomic variables how to effect profitability of the textile industry, whether caused by non-linear effects. Using Granger and Terasvirta (1993) and Terasvirta (1994) proposed smooth transition regression model, results showed: when GDP is greater than the threshold value, the price of oil, the unemployment rate, exchange rate and industrial scale for textile industry showed positive effects on profitability , while inflation has negative effects; when GDP is less than the threshold value, the oil price, exchange rate and industrial scale for textile industry showed positive effects on earnings, but its influence has declined, the impact of the unemployment rate to negative to influence, while inflation is still showing a negative effect.