This paper discusses the factors that affect the share price index of Taiwan solar power industry, crude oil prices and the size of the solar manufacturers in Taiwan and Taiwan's market index into the consideration. In addition, considering whether the policies implemented by our government would change the solar industry in Taiwan¡¦s stocks structural .Using the correlation coefficient, the unit root test, Chow test, cointegration test , vector error correction model, impulse response and forecast error variance decomposition to explore their relationship respectively. The study period starts from January 3,2002 until December 30,2011, a total of 2450 daily data for empirical analysis.
By Chow test , we find that there is no structural change of solar stock index after the implementation of the domestic policies. Three international crude oil prices and the total share capital of solar manufacturers in Taiwan and the Taiwan solar power industry stocks index has co-integration relationship, means the three international crude oil prices and solar companies total share capital of solar stock index has a long-run equilibrium relationship. By the error correction model of West Texas crude oil price of Brent crude oil prices, the total share capital of the solar companies in Taiwan and Taiwan solar stock index mutual interaction, and the relationship between changes in Taiwan's solar stock price index and Brent crude oil price, West Texas crude oil prices and the total manufacturers of solar energy manufacturers in Taiwan¡¦s share capital are positive, besides, I also found a positive relationship in the impulse response.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0619112-171100 |
| Date | 19 June 2012 |
| Creators | Deng, Yu-chi |
| Contributors | Ping-Cheng Li, Shan-non Chin, Wen-Chi Huang |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0619112-171100 |
| Rights | user_define, Copyright information available at source archive |
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