A Causality Study on Price and Volume of TAIWAN STOCK INDEX.
| Autor: | HUANG YA-CI, 黃雅琪 |
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| Rok vydání: | 2014 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 102 Stocks are financial instruments in the financial markets of one - the most common of the investing public speaking, the purpose is to invest in stocks order to earn a profit. The relationship between the stock market price and trading volume of the analysis are often stocks many investors to become the most important variable. Price volume relationship in the past, there are references to explore many scholars, the mutual influence between price and volume for the stock market, the turnover value on the closing price, or the closing price impact volume, scholars' research results are inconsistent, so the theme of this thesis is a causal relationship between the amount of the stock research station. This article is to explore the causal relationship between the amount of Taiwan shares initially at a single test (unit root) to test whether a given state, followed then Granger Causality causality test and impulse response analysis to explore the interaction between price and volume weighted index TAIEX's. Learn more about whether the closing price of the transaction value TAIEX interaction to understand whether trading volume can serve as a leading indicator of price discovery to the reference volume as the stock price movements, whether the price and trading volume is positively correlated with. According to the empirical results of this paper pointed out that the Taiwan weighted stock price-volume relationship of mutual influence, with feedback causality. And discoveries are leading indicators of price, it has the support of Taiwan stock price and volume relationships. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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