The effects of Baltic Dry Index on Stock Price and Operating Performance – The Cases of Chinese Maritime Transport Company and Taiwan Navigation Company / 波羅的海乾散貨指數對散裝航運業股價及經營績效之影響–以中航及台航為例

碩士 / 世新大學 / 財務金融學研究所(含碩專班) / 107 / This study explores the Baltic Dry Index (BDI) Index and its index constitutes the Baltic Capesize Index (BCI), the Baltic Panama Ultimate Shipping Freight Index (BPI) and the Baltic Ultra-lightweight Ultimate Shipping Freight Index (BSI) for Taiwan Navigation Company and Chinese Maritime Transport Company of the bulk carrier Corporate between stock price and business performance relevance.
Verify that the above companies have stock prices, operating income, net income, earnings per share, and return on assets during the same period. Observe BDI、BCI、BPI and BSI. The impact of the use of Taiwan Economic Joural Co., Ltd. (TEJ) from First quarter of 2009 to The third quarter of 2018, quarterly BDI、BCI、BPI、BSI, Taiwan Navigation Company. and Chinese Maritime Transport Company Stock Price, Operating Income, Net Income ,Earnings Per Share (EPS), and Return On Assets (ROA) data were analyzed by linear regression and Durbin-Watson verification.
The empirical results obtained the following several conclusions:
1.The stock prices of Chinese Maritime Transport Company and Taiwan Navigation Company show that and BDI, BCI, BPI and BSI indices are very significant and do have a correlation. It is recommended that investors who want to invest in the stocks of the above two bulk shipping companies can refer to the above index analysis and buy and selling time.
2.The Operating Income, Net Income, EPS, and ROA of the two companies and the BDI、BCI、BPI、BSI indices are highly significant. The related variables of the operating performance of the two companies are behind the BDI、BCI、BPI、BSI indices for at least 2 seasons,and the two companies have an effect of time lag. By observing the BDI、BCI、BPI、BSI indices, we can speculate on the future revenue, profit and business status of the above companies, it is recommended to observe the long-term observation of the investors and banks of the above two bulk shipping companies to conduct credit business. The four indexes of BDI, BCI, BPI and BSI index can be included in the observation as an assessment of the future operation of the above companies. One of the performance indicators.

Identiferoai:union.ndltd.org:TW/106SHU00304006
Date January 2019
CreatorsWANG, YU-CHIEH, 王玉潔
ContributorsWU, CHIU-HUI, 吳秋慧
Source SetsNational Digital Library of Theses and Dissertations in Taiwan
Languagezh-TW
Detected LanguageEnglish
Type學位論文 ; thesis
Format47

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