碩士 / 淡江大學 / 管理科學研究所 / 81 / For the reasons of the subtle relationship between R.O.C. ,
China and H.K., we are interested to know the performances of
the stock markets in these three areas. The data of this study
are collected from these four stock markets of R.O.C., H.K.,
Shanghai, and Shentzuhn respectively, during the period of
July 29 1991 to December 31 1992. From different point of
views, we assess these four stock markets individually, and
also explore their correlation. The conclusions got from this
study are: (1).The characteristics of the stock market:
Shanghai stock market has the highest rate of return and
highest risk, and the market of Shentzuhn is even more spe-
culative than Shanghai. The stock markets of R.O.C. and H.K.
are more stable. (2).Randomness and correlation: The stock
indices of Shanghai market is easily to increase or decrease
persistently. In the aspect of correlation, Shentzuhn is
much more positively closer to H.K. than to Shanghai,
despite of the political relation. R.O.C. stock market has
negative correlation with the other three stock markets.
(3).Assessment of the investment conditions: In the past
researchers preferred to use the method of "Mean-Variance
Approach" to analyze the intra-stock markets; however, this
method could not properly judge the likes of "high profit, high
risk" or "low profit, low risk" markets, so we construct
the " Modified Mean-Variance Utility Approach", this study
considers the characteristics of stock markets and the utility
of investers both, through the Tay- lor expression to make
assessment, the results are Shangshai ranking first in the
investment conditions, Shengtzuhn second, H.k. third, and R.
O.C. fourth.
| Identifer | oai:union.ndltd.org:TW/081TKU00457039 |
| Date | January 1993 |
| Creators | Pao-Yu Huang, 黃寶玉 |
| Contributors | Youh-Gang Lii, 李又剛 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 93 |
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