The Impact of Presidential Election on Stock Returns: A Case Study of Taiwan
| Autor: | CHANG, TIEN-YING, 張天穎 |
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| Rok vydání: | 2019 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 107 This paper uses the event research method to analyze the impact of Taiwan's share price on all listed companies after the presidential elections in the period from 2004 to 2016. And separately discuss the top nine stocks with a high proportion of weights in Taiwan stocks. After this major political election incident, does it trigger abnormal returns AR and accumulated abnormal returns CAR? The empirical results show that every time after the election event day, the abnormal remuneration of the stock market often affects the stock price of the relevant concept stocks. The stock price movements and fluctuations affecting related stocks will vary depending on the political time and space background. Therefore, if a political party rotation occurs in the presidential election results, it will have a significant impact on the stock market, resulting in a clear stock price trend. The abnormal return rate AR and the cumulative abnormal return rate CAR increase significantly. If the ruling party continues to govern in the presidential election, the impact on the stock market will be small, and its abnormal return rate AR and cumulative abnormal return rate CAR will be significantly lower. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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