南華大學機構典藏系統:Item 987654321/27242
English  |  正體中文  |  简体中文  |  全文笔数/总笔数 : 18278/19583 (93%)
造访人次 : 2122500      在线人数 : 421
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜寻范围 查询小技巧：
  • 您可在西文检索词汇前后加上"双引号"，以获取较精准的检索结果
  • 若欲以作者姓名搜寻，建议至进阶搜寻限定作者字段，可获得较完整数据
    •  进阶搜寻


    jsp.display-item.identifier=請使用永久網址來引用或連結此文件: http://nhuir.nhu.edu.tw/handle/987654321/27242


    题名: 全球金融危機過後中、美股市對亞洲股市影響力消長之研究
    其它题名: Alternating Influence of Strong U.S. or Chinese Stock Markets on Asian Stock Markets after the Global Financial Crisis
    作者: 崔可欣;陳立斌;Tswei, Ke-Shin
    貢獻者: 文化創意事業管理學系
    关键词: 全球金融危機;股市關聯性;衝擊反應函數;預測誤差變異數分解;global financial crisis;stock market interdependence;impulse response function;forecast error variance decomposition
    日期: 2015-09
    上传时间: 2019-07-11 16:10:22 (UTC+8)
    摘要: 現有文獻多發現中國在2005年之前與國際股市呈現區隔狀態，而美國對亞太地區股市則有最大的影響力。本研究發現在2008年全球金融危機期間過後，在中國實施刺激經濟方案之期間（2009/8-2011/2），美國股市對韓、台、港三地股市的影響力呈現衰退，反之中國股市對這些股市的影響力則有超越美股的跡象，可推論在此期間美國經濟仍然不振，而中國所實施的刺激經濟方案使中國經濟持續成長，對鄰近地區的進口需求持續提升，以至於其股市訊息對鄰近亞洲股市的影響力有所提升。但就金融危機期間之後較長的期間而論（2009/8/1-2012/5/31），可發現美股對日、韓二股市的影響力仍與金融危機期間之前相同甚至有提升，但對香港股市（在預測誤差變異數分解方面，尚包括台灣股市）的影響力則有下滑的傾向，可推論係因香港（或台灣）等大中華區的經濟體在金融危機過後對中國經貿的依賴度提升所致。
    Most existing literature has found that China's stock market was segregated from most other countries before 2005, while the U.S. stock market had the greatest influence on the Asia-Pacific stock markets. In this paper, it is found that the influence of the U.S. stock market on Korean, Taiwan and Hong Kong stock markets was declining during the period of 2009/8 to 2011/2, wherein China implemented an economic stimulus program of 4 trillion yuan, while the influence of the China stock market on these markets exceeded that of the U.S. stock market probably owing to the fact that as the economy of China continued to grow and the import demand for these neighboring markets also rose during that period, the influence of the China stock market was also increasing. But when the influence of the U.S. and China markets was reexamined in a longer period, that is, 2009/8/1-2012/5/31, it is found that the influence of the U.S. stock market on Japanese and Korean stock markets remained the same or was even stronger than that before the global financial crisis, while its influence on Hong Kong (or Taiwan, in the result of forecast error variance decomposition) was declining, which might be due to the fact that Hong Kong or even Taiwan has more economic dependence on China after the global financial crisis.
    關聯: 輔仁管理評論
    22卷3期
    pp.35-62
    显示于类别:[文化創意事業管理學系] 期刊論文

    文件中的档案:

    档案 描述 大小格式浏览次数
    全球金融.pdf1156KbAdobe PDF518检视/开启


    在NHUIR中所有的数据项都受到原著作权保护.

    TAIR相关文章

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回馈