The Effects of Soybeans Futures Prices on the Share Prices of the Food Listed Companies in Taiwan

• Main Authors: Wen-Chuan Chang, 張文娟
• Other Authors: Wen-Chi Liu
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/45786567175205458233

碩士 === 大葉大學 === 管理學院碩士在職專班 === 103 === Food product from agricultural supply is essential for human life to energize us. Soybean is very important to our daily diet among consumer food products. The previous studies indicated the soybean’s futures price largely influenced the profits of the food companies and their stock prices. In this paper, the unit root tests and vector auto-regression model were employed to explore the impacts of soybean prices on the stock prices. This paper focused on the listed Taiwanese food companies by analyzing weekly data from the Chicago futures market price – (i.e., Chicago Board of Trade (CBOT)) and stock prices of Taiwanese companies. The research period was from January 2nd, 2009 to March 7th, 2014. The result showed that he soybean’s futures price positively significantly led a week ahead of the stock prices of three food companies (FORMOSA, FWUSOW, and TTET UNION).