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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 李賢源 | |
dc.contributor.author | Chia-Ju Chung | en |
dc.contributor.author | 鍾佳儒 | zh_TW |
dc.date.accessioned | 2021-07-09T15:52:08Z | - |
dc.date.available | 2028-07-16 | |
dc.date.copyright | 2018-07-30 | |
dc.date.issued | 2018 | |
dc.date.submitted | 2018-07-16 | |
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dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/76423 | - |
dc.description.abstract | 從中國的外匯存底與人民幣匯率的時間序列資料中發現兩者走勢相近,人民幣匯率的預期會影響資本的流動,進而影響外匯存底的變化,資本流動可以分別從直接金融和間接金融探討。在2014年前人民幣長期升值,企業會傾向到境外發行公司債,2014年至2015年人民幣匯率從原先升值的態勢開始波動並走貶後,企業則傾向回到境內發行公司債,同時中國境內的外幣貸款及離岸人民幣存款也隨之減少。因此,本研究透過Quandt-Andrews Test、Bai and Perron Test及Chow Test等結構轉變的統計檢定方法,來驗證中國直接金融和間接金融的時間序列資料是否在匯率變動的時點有產生結構轉變,最終結果發現直接金融的中國境外公司債發行量在2013年初及2014年5月兩個時間點有產生結構的轉變。 | zh_TW |
dc.description.abstract | It was observed that China's foreign reserve and renminbi exchange rate had similar trends in the past. The expectation of renminbi exchange rate will influence capital flow and then it will have an impact on china's foreign reserve. Furthermore, capital flow can be in the form of direct and indirect finance. Renminbi has appreciated sharply over the past several years before 2014, so that corporates increase offshore corporate bond issuance. However, renminbi turned to fluctuate in 2014 and depreciate in 2015 afterwards. Corporates tended to issue onshore corporate bond consequently. In addition, China onshore foreign currency loans and offshore renminbi deposits decreased at the same time. The purpose of this study was to investigate whether the direct and indirect finance time series data had the structural changes when renminbi exchange rate fluctuated. Quandt-Andrews test, Bai and Perron test and Chow Test are used in this study to prove that capital flow would exactly influence by renminbi exchange rate. Finally, the results show that China offshore corporate bond issuance exactly had structural changes in early 2013 and May 2014. | en |
dc.description.provenance | Made available in DSpace on 2021-07-09T15:52:08Z (GMT). No. of bitstreams: 1 ntu-107-R05723035-1.pdf: 2793749 bytes, checksum: 710487dbc77c1e0334e011d3f324e06d (MD5) Previous issue date: 2018 | en |
dc.description.tableofcontents | 口試委員會審定書 i
中文摘要 ii Abstract iii 第一章 緒論 1 第一節 研究背景與動機 1 第二節 研究目的 8 第二章 文獻探討 10 第一節 外匯存底與匯率之間的關係 10 第二節 資本外流 10 第三節 影響企業選擇境內境外的因素 11 第四節 結構轉變 12 第三章 研究方法 15 第一節 資料來源 15 第二節 研究步驟 15 第三節 結構轉變檢定方法 16 第四章 資料結果分析 22 第一節 單根檢定 22 第二節 資料期間至2015年 24 第三節 資料期間至2017年 31 第四節 國有企業及非國有企業 37 第五節 考量時間趨勢的影響 42 第五章 結論與建議 44 第一節 結論 44 第二節 後續研究建議 46 參考文獻 48 附錄 51 | |
dc.language.iso | zh-TW | |
dc.title | 以結構轉變檢定看人民幣匯率如何影響中國資本流動 | zh_TW |
dc.title | How Renminbi Exchange Rate Influence China’s Capital Flow through the Structural Change Tests | en |
dc.type | Thesis | |
dc.date.schoolyear | 106-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 李宗培,蔡偉澎 | |
dc.subject.keyword | 人民幣匯率,資本流動,中國公司債,離岸人民幣存款,結構轉變, | zh_TW |
dc.subject.keyword | Renminbi exchange rate,Capital flow,China corporate bond,Offshore renminbi deposit,Structural change, | en |
dc.relation.page | 62 | |
dc.identifier.doi | 10.6342/NTU201801573 | |
dc.rights.note | 同意授權(全球公開) | |
dc.date.accepted | 2018-07-16 | |
dc.contributor.author-college | 管理學院 | zh_TW |
dc.contributor.author-dept | 財務金融學研究所 | zh_TW |
dc.date.embargo-lift | 2028-07-16 | - |
顯示於系所單位: | 財務金融學系 |
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