An Empirical Research of Five-Phases Allelopathy Model on Stock Selection Strategy in Hong Kong Stock Market

• Main Authors: Lai, Chiu-Lan, 賴秋蘭
• Other Authors: Chang, Kung-Hsiung
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/pr5py8

碩士 === 國立屏東科技大學 === 企業管理系所 === 103 === Based on the Five-Phases Allelopathy Theory of Chinese numerology, this paper establishes a stock selecting model. In this study, we use the theory of the Five-Phases of Chinese numerology as the main concept of the modeling establishment, of which the five elements gold, wood, water, fire, earth’s allelopathy relations as the main concept. We use all monthly data in Hong Kong stock market as sampling data from 2000 to 2013, totally as 14 years. This study uses two steps to verify the use of the Five-Phases Allelopathy Theory in the Hong Kong stock market. The results show that the special industry’s stocks belonging to wood-phase obtain a highest accuracy of 81.18% in sampling period from a natal numerology. And from the view of appropriate of different natal industry group in sequencing years, nine of fourteen years match partly the Five-Phases Allelopathy Theory，accuracy up to 64.28%. And the average return of the high-paid group is higher than the average return of the low-paid group in eleven years, accuracy up to 78.57%.