Title page for etd-0718102-162849


[Back to Results | New Search]

URN etd-0718102-162849
Author Brook Lei
Author's Email Address No Public.
Statistics This thesis had been viewed 4603 times. Download 3989 times.
Department Finance
Year 2001
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title A Study of Macroeconomic Variables that Determine Earnings Multiple of Taiwan Stock Market--Empirical Study of Earnings to Price Ratio (E/P)
Date of Defense 2002-07-01
Page Count 59
Keyword
  • Earnings to Price Ratio
  • Macroeconomic Variables
  • Abstract Abstract
    The study reported here was tring to examine the macroeconomic variables that determine the earnings multiple of the Taiwan stock market. For this study, monthly time-series data were used for each of the variables from 1991 through 2001. We used earnings to price ratio(E/P)as the dependent variable,M1B、GDP(lag)、market return、capital increasing rate、log of 5 years bond yield、inflation rate、lag of earning growth and market value to GNP ratio(MV/GNP)as the independent variables to construct a multiple-regression model.
    And we finded the maraket value to GNP ratio(MV/GNP)was the most powerful variable of the 5 significant variables. GDP(lag)was second, capaital incresing rate ranked third. Market return was fourth, and M1B was the fifth most explanatory variable. Both capaital increasing rate(supply side)and M1B(demand side)variables were signifinant,meant the Law of Supply & Demand remained unchanged in the Taiwan stock market.
    Advisory Committee
  • none - chair
  • none - co-chair
  • none - advisor
  • Files
  • etd-0718102-162849.pdf
  • indicate accessible in a year
    Date of Submission 2002-07-18

    [Back to Results | New Search]


    Browse | Search All Available ETDs

    If you have more questions or technical problems, please contact eThesys