政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/6117

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | 全文筆數/總筆數 : 115256/146303 (79%)
造訪人次 : 54543318 線上人數 : 348

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/6117

請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/6117

題名:	On the Effect of Stock Stabilization Fund: A Case of Taiwan
作者:	Liu, Yu-Jane 劉玉珍
關鍵詞:	Stock stabilization fund;Mainland China`s military exercise;Morgan-Stanley event;ARIMA models;Intervention analysis;Outlier adjustment
日期:	2002
上傳時間:	2008-11-05 17:00:25 (UTC+8)
摘要:	The purpose of this paper is to investigate the effect of Taiwan`s stock stabilization fund on the stock market. Stabilization funds have long been used by many countries to achieve the goal of market stabilization. However, the actual impacts of the funds still remain a puzzle. This is the first paper that empirically examines the effect of the stabilization fund on the stock market. Taiwan`s stock stabilization fund, which was inaugurated in February 1996 after the panic selling induced by the announcement of military exercise by mainland China, provides an experimental environment for investigating whether this alternative mechanism is effective in stabilizing the stock price when the market is in panic. By intervention analysis, we find that in the short run, the stabilization fund is statistically significant in preventing the market price from further declining after the announcement of the mainland China`s military exercise. This evidence still holds after controlling the effects of the following two events: Morgan-Stanley`s announcement to include Taiwan stock index into its worldwide equity market indices, and the event of U.S. aircraft carrier sent to Taiwan Strait to secure this area during the period of military exercise by mainland China.
關聯:	Review of Pacific Basin Financial Markets and Policies, 1, 93-109
資料類型:	article
DOI 連結:	http://dx.doi.org/10.1142/S0219091502000687
DOI:	10.1142/S0219091502000687
顯示於類別:	[財務管理學系] 期刊論文

文件中的檔案:

檔案	描述	大小	格式	瀏覽次數
93-109.pdf		208Kb	Adobe PDF2	624	檢視/開啟

在政大典藏中所有的資料項目都受到原著作權保護.

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

資料載入中.....