Analysis of Relation between Real Estate Market and Returns of Financial Service Industry
碩士 === 國立雲林科技大學 === 財務金融系 === 102 === This study analyzes the relation between the real estate market and the stock returns of financial service industry. Monthly data are collected from January 2004 to December 2013. The objective companies are divided into Banking， Financial Holding Companies， Sec...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2014
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| Online Access: | http://ndltd.ncl.edu.tw/handle/42578803850688741468 |
| Summary: | 碩士 === 國立雲林科技大學 === 財務金融系 === 102 === This study analyzes the relation between the real estate market and the stock returns of financial service industry. Monthly data are collected from January 2004 to December 2013. The objective companies are divided into Banking， Financial Holding Companies， Securities， and Insurance sectors. The empirical results show that TAIEX has significantly explanatory power to stock returns of all companies. Other real estate factors inconsistently affect the individual companies. The housing loan is significantly and positively relative to both TFMI (2832) and CDFH (2883).。The floor area negatively affects UBOT (2838)， the interest rate has negative influence on E.SUN FHC (2884) and TAISIN FHC (2887)， and the fee income negatively affects UNION INSURANCE COMPANY(2816). Therefore， we suggest investors to choose the upward and downward movements of TAIEX as an investment index.
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