近年來財經學者多致力於，希望運用各種方法對於股票報酬率加以分析預測，現今對於討論價與量之間的關係性將其分成1.價量齊漲2.價漲量縮3.價跌量縮4.價跌量漲四種情形分開，探討彼此間的關係。 因此本研究將以Lamourex& Lastrapes(1990)的GARCH模型分析法作為研究方法的基礎，研究範圍包括在86.12.31之前，已上市兩年以上的電子類股(46支個股;分成四大族群)在盡可能接近現實情況下針對於系統風險係數可變動假設，及加入價與量四種可能情形而設計出虛擬變數，檢定成交量對股票報酬率及市場指數報酬率(系統風險)對股票報酬率是否有顯著影響。研究期間自84.12.30~86.12.31，其結論如下：1.資料呈現部分價與量呈正相關，部分呈現兩者無關，所以有條件情況下，彼此才具正相關性。2.系統性風險對報酬率的影響在各種情況下，市場指數報酬率對各次類股的報酬率均有非常顯著的正相關，表電子類股與大盤指數漲跌存在明顯的正相關3.市場指數報酬率係數(β)的假設在價跌量縮時市場指數報酬率對其系統性風險係數有負向的影響，也就是說當市場看空時，其系統性風險係數(βpt)亦會隨之變大，此時投資人理性地，加強運用市場報酬率對股價報酬率的預測。

The impirical test of the stock price and the stock trading volume in Taipei stock market---using the electric stock group as example All of investors wish to be able to predict the stock price precisely . In this research , we tried to analyze the corrlation between stock prices and its trading under four different coniditions :1.pricesrise and volume rise 2.prices rise and volume shrinks 3.prices shrink and volume shrinks 4.prices shrink and volume rises The GARCH model was used in this research and forty-six electric stocks were included . The period of this research was from 1995 to 1997 .It would help us predict the stock price in future . The conclusion of this research is as follows :1. There is no positive correlation between stock prices and its trading volume under above mentioned conditions. 2. There are positive correlation between the return of stocks and the average weighted index under these conditions.Stock