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| DC 欄位 | 值 | 語言 |
|---|---|---|
| dc.contributor.advisor | 林修葳(Hsiou-Wei Lin) | |
| dc.contributor.author | Wen-Hsin Wu | en |
| dc.contributor.author | 吳文心 | zh_TW |
| dc.date.accessioned | 2021-05-17T10:18:12Z | - |
| dc.date.available | 2014-02-16 | |
| dc.date.available | 2021-05-17T10:18:12Z | - |
| dc.date.copyright | 2012-02-16 | |
| dc.date.issued | 2011 | |
| dc.date.submitted | 2011-06-28 | |
| dc.identifier.citation | 一、中文部分
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Lunar Phases and Stock Returns, University of Michigan Business School Working Paper 三、相關網站 [1]Psytopic http://www.psytopic.com [2]北京466醫院網 http://www.81988888.com [3]商業週刊 www.businessweekly.com.tw [4]中國氣象局 http://www.cma.gov.cn [5]阿里醫藥網 http://xnxg.aliyiyao.com [6]百度百科 http://baike.baidu.com [7]地面氣象公司 http://www.wunderground.com [8]世新大學部落格 http://blog.cnyes.com/My/shinfin | |
| dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/7075 | - |
| dc.description.abstract | 在探討投資人情緒與股市行為時，國內文獻在直接投資人情緒指標上缺乏實證研究。而在探討氣候變數與股市行為時，多數採用線性模型，致無法凸顯投資人行為在值域內舒適氣候區間的特殊性，並且缺乏探討人體實際對於天氣感受狀況的解釋。為此，本研究探討不同氣候區間的投資人交易行為是否有顯著差異，以及氣候對直接情緒與股市交易行為的殘差是否存在邊際解釋力。
實證結果發現，在個別的氣候區間，加權指數報酬率與融資增減比在舒適氣候的平均數較高，但是在不同氣候間的表現無顯著差異。股市行為表現在舒適氣候的表現下最好，次者為寒冷氣候，炎熱氣候的表現在所有的氣候當中表現最差。 此外，散戶投資人的情緒與加權指數報酬率、成交量、當日沖銷比、融資增減比、散戶週轉率、三大法人週轉率、三大法人淨買入或淨賣出有顯著的正相關，而在投資人情緒與交易行為關係之外，舒適度指數對成交量有顯著的負向干擾效果，對融資增減比則有顯著的正向干擾效果，而當氣候愈顯得寒冷或炎熱時，當日沖銷比會增加。 | zh_TW |
| dc.description.abstract | This study explores whether and the extent to which Taiwan’s Comfort Index helps explain the variations of investor sentiment and stock returns.
The empirical results suggest that Taiwan’s stock market performs the best in comfortable weather and the worst in hot weather conditions. The former piece of evidence is consistent with the statement regarding the physiological effect in prior studies, which, specifically, document that pleasant weather conditions arouse an optimistic mood and behavior. Moreover, this study documents that direct investor sentiment has a significantly positive correlation with stock returns, daily trading volume, day trading ratio, margin purchase, short sales, retail and three institutional investors’ turnover, and three investors’ net purchase or net sell. Taiwan’s Comfort Index has a significantly negative interference effect on daily trading volume between direct investor sentiment and trading behavior, and a positive interference effect on margin purchase. Furthermore, the more extreme the weather condition, the greater the day trading ratio is. | en |
| dc.description.provenance | Made available in DSpace on 2021-05-17T10:18:12Z (GMT). No. of bitstreams: 1 ntu-100-R97724003-1.pdf: 404682 bytes, checksum: bce87ba7750aaf14d9ec6253794befea (MD5) Previous issue date: 2011 | en |
| dc.description.tableofcontents | 誌謝 i
中文摘要 ii ABSTRACT iii 目錄 iv 表目錄 vi 圖目錄 vii 第一章 緒論 1 第二章 文獻探討與研究假說 3 第一節 文獻探討 3 一、 行為財務學 3 二、 天氣與人體 4 三、 投資人情緒與非理性決策 5 四、 天氣指標與情緒 6 五、 投資人情緒指標 7 第二節 研究假說 9 第三章 研究方法 11 第一節 研究期間、樣本選擇與資料來源 11 第二節 變數的選擇 11 一、 自變數 11 二、 應變數 13 第三節 研究模型 16 一、 兩獨立樣本t檢定（Two-Independent-Sample t Test） 16 二、 Fama and MacBeth 迴歸模型（Fama and MacBeth Regressions） 17 三、 簡單線性迴歸模型（Simple Linear Regression Model） 18 第四章 實證結果與分析 19 第一節 兩獨立樣本t檢定假設結果 19 一、 舒適氣候與寒冷氣候 19 二、 舒適氣候與炎熱氣候 22 第二節 Fama and Macbeth橫斷面迴歸分析結果 25 第三節 迴歸分析基本假說檢定結果 26 第五章 結論與後續建議 28 第一節 結論 28 第二節 後續建議 29 參考文獻 30 | |
| dc.language.iso | zh-TW | |
| dc.title | 氣候舒適度對投資人情緒與台灣股票市場的影響 | zh_TW |
| dc.title | Does Taiwan’s Comfort Index Help Explain the Variations of Investor Sentiment and Stock Returns? | en |
| dc.type | Thesis | |
| dc.date.schoolyear | 100-1 | |
| dc.description.degree | 碩士 | |
| dc.contributor.oralexamcommittee | 張竹萱(Chu-Hsuan Chang),謬文娟(Wen-Chuan Miao) | |
| dc.subject.keyword | 行為財務學,天氣效應,投資人情緒, | zh_TW |
| dc.subject.keyword | Weather Effect,Behavioral Finance,Investor Sentiment, | en |
| dc.relation.page | 36 | |
| dc.rights.note | 同意授權(全球公開) | |
| dc.date.accepted | 2011-06-29 | |
| dc.contributor.author-college | 管理學院 | zh_TW |
| dc.contributor.author-dept | 國際企業管理組 | zh_TW |
| 顯示於系所單位： | 國際企業管理組 | |
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