English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113656/144643 (79%)
Visitors : 51720279      Online Users : 625
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/5075


    Title: 外資、投機行為與股市不穩定性
    Other Titles: Foreign Capital, Speculation and Equity Market Volatility
    Authors: 朱美麗
    Keywords: 外資;投機行為;股市不穩定性
    Foreign Capital;Speculation and Equity Market Volatility
    Date: 2001
    Issue Date: 2007-04-18 18:27:22 (UTC+8)
    Publisher: 臺北市：國立政治大學經濟學系
    Abstract: 本文建構一涵蓋外資理性投機的股票市場隨機模型，分析外資投機行為對股市穩定性的影響，研究結果發現：理性的外資投機者風險偏好增加，是否會降低股價的條件變異數，與突發性衝擊是否會影響外資所欲持有的最適股票資產的數量有關。突發性衝擊發生時，若外資所欲持有的最適股票資產數量不變，則因股價偏離長期均衡值所導致的短期投機行為，反而有助於股市的穩定性；但若其所欲持有的最適股票資產數量會改變，則外資的參與就可能會擴大股市的波動。此外，本文也將資本管制引進此一股票市場隨機模型，探討資本管制的影響，發現由於外資的參與可能穩定、也可能擴大股市波動，因此是否應採取資本管制，亦與突發性衝擊是否會導致外資調整其所欲持有的最適股票資產數量而定。
    This paper sets up a stochastic model of the equity market with foreign rational investors to investigate whether foreign capital stabilizes or destabilizes the local equity market. The finding is that an increase in foreign speculators` taste for risk may decrease or increase the conditional variance of the equity price depending on whether an unanticipated disturbance will change the desired holdings of equity assets held by foreign speculators in that period. If the desired optimal holdings of equity assets are unchanged, then the foreign speculators stabilize the local equity market. However, if the desired optimal positions of equity assets have to be adjusted, the speculative foreign capitals may lead to a more volatile local equity market. Thus, the developing countries should be very careful if they attempt to take control over foreign capitals. Capital controls can be justified sometime, but may not be right all the times.
    Description: 核定金額：634200元
    Data Type: report
    Appears in Collections:[經濟學系] 國科會研究計畫

    Files in This Item:

    File Description SizeFormat
    902415H004016.pdf157KbAdobe PDF21208View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    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.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback