| Summary: | 碩士 === 國立高雄第一科技大學 === 財務管理研究所 === 103 === This paper investigated whether the Presidential Election will affect the Taiwan stock market. The investigated period covered the Presidential Elections in the year of 2000, 2004, 2008 and 2012. In general, the government''s finances and monetary policy have a greater influence to the traditional domestic sectors. In Taiwan, the President has a decisive influence to finances and monetary policy.
The paper investigated whether the presidential election will affect the Taiwan stock market shares of each sector through a dummy variable GJR-GARCH pattern. The empirical results found that the construction sector which uncertainty disappeared after the presidential election cause to the information transmission increasing and the fluctuation of stock pricing decreasing, which is the most obvious in all sectors. According to the result, it can be explained the president-elect had considerable influence to the real estate industry, but the real estate rose in Taiwan is also related to campaign finance.
|
|---|
