A Study on Relationships between Stock Price of Companies and Their Key Accounts- Evidence from Apple and HTC
碩士 === 國立屏東科技大學 === 財務金融研究所 === 99 === This study aimed to examine the relationship between stock prices of companies and their key accounts. The sample came from the daily stock returns of Apple, HTC and their key supplier companies, from April 13, 2009 to April 15, 2011. The unit root test showed...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2011
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| Online Access: | http://ndltd.ncl.edu.tw/handle/18073769102895584321 |
| Summary: | 碩士 === 國立屏東科技大學 === 財務金融研究所 === 99 === This study aimed to examine the relationship between stock prices of companies and their key accounts. The sample came from the daily stock returns of Apple, HTC and their key supplier companies, from April 13, 2009 to April 15, 2011.
The unit root test showed that all data were stationary. The Granger Causality test indicated that Apple daily returns Granger caused 14 key supplier companies. In addition, Apple and 7 key supplier companies exhibited mutually Granger casualty relationship. While HTC only Granger caused 1 key supplier company.
The empirical results from VAR showed that there existed positive relation between Apple previous daily return and the daily returns of 14 key supplier companies. While the relation only existed between HTC and 1 key supplier company.
The empirical results showed that the positive relation between stock prices of companies and their key accounts implied the stock return of the key account can be a good predictor; however, the strength of the relation varies across companies.
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