| Summary: | 碩士 === 淡江大學 === 財務金融學系碩士在職專班 === 104 === This study used Event Study Method and took 107 event dates at which SSE Composite Index had a rise or fall of 3% (or above) and 184 event dates at which SSE Composite Index had a rise or fall of 2% (or above) from 1st January 2006 to 31st December 2015 as observation samples, to analyze the impact on stocks of two major spot markets, listed and OTC stock market, as well as stocks of three major industries, electronics, financial, and non-financial and non-electronics industry of Taiwan. Results are described below: First, the impact on Taiwan''s stock market appears to be more significant when SSE Composite Index rises sharply other than when its falls. And when SSE Composite Index has a rise of over 3% or 2%, the listed stocks of Taiwan show significant positive response, while OTC stocks show significant negative response.
Second, for stocks of the two major spot market, listed and OTC stocks market, as well as the three major industries, electronics, financial, and non-financial and non-electronics industry of Taiwan, their response to changes in SSE Composite Index varies. Listed and OTC stocks have a more significant response to changes in SSE Composite Index than electronics, financial, and non-financial and non-electronics stocks do. Only when SSE Composite Index has a fall of over 2%, the three major industrial stocks will show more significant response, and among the three major industrial stocks, electronics stocks have more significant reaction to changes in SSE Composite Index than the other two
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