碩士 / 淡江大學 / 管理科學研究所碩士班 / 96 / The study is discussing some common economics indicators whether they will have impact on transportation corporations stock indexs, and the discussed economics indicators include West Texas Intermediate, Brent North Sea crude, TW/US rate, TW/EUR rate, EUR/US rate, CRB index and BDI index. The data are collected with total 685 daily data for the period of January 1, 2005 to December 31, 2007. And separating the transportation corporations into ocean shipping, land transportation and air transportation discussed respectively.
Our empirical findings are as follows. First, the economics indicators which have impact on the whole transportation corporations stock indexs may not have the same impcact on the individual transportation corporations, and West Texas Intermediate has the strongest influence on the air transportation corporations stock index. Second, the outputs of cointegration infer that all types of transportation corporations stock indexs are in a long-term equilibrium relationship with the majority of economics indicators, especially air transportation stock index. It means we can predict the trend of transportation corporations stock indexs by economics indicators. Third, the outputs of bivariate GARCH model infer that BDI index has a negative impact on all transportation corporations stock indexs, excluding the bulk transportation.
Despite the economics indicator and the transportation corporations stock indexs discussed in this study are in the upward trend, investor would consider the relationship between the economics indicator and the transportation corporations stock indexs carefully.
| Identifer | oai:union.ndltd.org:TW/096TKU05457036 |
| Date | January 2008 |
| Creators | Hsin-Ning Chiang, 江信寧 |
| Contributors | 倪衍森 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 72 |
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