碩士 / 國立高雄應用科技大學 / 國際企業系碩士在職專班 / 106 / ABSTRACT
The purpose of this study is to investigate how the international oil price, exchange rate and BDI index affect the stock prices of Taiwanese marine transport companies. The empirical tools used here are Unit Root Test ADF, vector autoregressive model, ARCH, GARCH and the sample marine companies under study are EMC, YML, and WHL. The analyzing data being chosen are from Jan. 2010 to Dec. 2017.
The result of the study shows that when BDI index of bulk goes up, the stock prices of YML and WHL go down instead. On the other hand, when NTD to USD depreciates, the stock returns of EMC, YML, go down, highlighting the major role of U.S dollars to the global marine industry.
Furthermore, both oil price change and fluctuation significantly and negatively impact companies stock returns. The result also shows that the loewest oil price during Feb. 2016 has significantly and positively iinfluece the return EMC, YML, and WHL are not. Seasonal factor also affects the stock returns of those companies. The study result also shows that all the Three companies make more profit at first quarter than the rest of the them, which could be due to the demand of goods and raw materials for New Year and the Chinese New Year.
| Identifer | oai:union.ndltd.org:TW/106KUAS1214011 |
| Date | January 2018 |
| Creators | Tseng-Tan-Yang, 曾丹陽 |
| Contributors | Song-Zan Chiou-Wei, Ph.D., 邱魏頌正 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 50 |
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