The analysis of relation between transformation of population structure and the industry's stock return rate
| Autor: | Li-chen Hsu, 徐麗珍 |
|---|---|
| Rok vydání: | 2011 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 99 The transformation of population structure is an important part that influences the trend of industrial development. With the advancing medical science and technology in recent years, human’s average lifespan extends; Taiwan has become an aging society since 1993 and the aging index in 2009 broke the history record. According to the data from the Ministry of the Interior in 2010, 10.63% of total population in Taiwan is old people who are over sixty-five of age, and the aging index is 65.05%. The aging index in Taiwan is second highest next to Japan in Asia, and is similar to U.S. and a bit lower than European countries. The transformation of population structure will influence development of industry and economy in the region. And industry’s stock price and its return rate are important indices for the prosperity of the industry. The aim of this research paper is to analyze the relation between transformation of population structure and the industry’s stock return rate. This paper uses Poterba, J.M. (2004) population percentage for the age of 40～64 and the actual S&P 500 figure as reference. We first analyze the relation between transformation of different age group, stock return rate and the industry’s stock return rate from Taiwan, Japan, U.S., U.K., France and Sweden between year 1999 and 2008; we discover that the variation from the age of 40～64, stock return rate and financial index’s return rate have positive relation. Furthermore, we analyze the relation between variation from the age of 40～64 and financial index’s return rate for the four countries that we can acquire more data over longer period of time, and we obtain the same results. At last, we analyze Japan that is the first aging country in Asia, to enhance the reference level for our country. We use more data over longer period of time to examine the relation between transformation of different age group, stock return rate and the industry’s stock return rate; and the result of research indicates the same. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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