臺灣博碩士論文加值系統

近年來，空氣汙染之相關議題逐漸受到大眾的關注，空氣汙染不僅危害我們的居住地、健康及情緒，現在甚至還會影響到股票交易市場？這個議題相當新穎且有趣，值得我們深入探討。本文研究期間為2009年至2017年，樣本採用每日加權股價指數收盤價去探討其與空氣汙染物之間有何相關。
實證結果表明，當PM2.5濃度越高，會使加權股價指數越低，且不管是在電子類股或是金融類股，都有一樣的發現，可能的原因就是PM2.5濃度高，使投資者情緒不佳，因此降低投資意願的緣故。而空氣汙染也會使股市有劇烈動盪，SO2與歷史波動率之間呈現顯著正向關係。最後，當PM2.5受到高風速的影響下，反而會使加權股價指數上漲，這是一項有趣的發現，可能原因為，高風速產生了擴散效應，使人們較不易察覺PM2.5所帶來的不適感，因此反而願意投資。

In recent years, the issues related to air pollution have gradually received public attention, air pollution not only endangers our environment, health and mood, but also affect the stock market? This topic is interesting. Our study period was from 2009 to 2017, and the sample used the closing price of TAIEX 、 PM2.5、SO2 as the main variable.
The empirical results show that the higher the PM2.5, the lower the TAIEX, and whether it is in the TSE31 or TWFE, there are the same finding. The possible reason is that high PM2.5 lets investors have a bad mood, so they reduce their willingness to invest. And air pollution will also cause the stock market to be violent, SO2 and historical volatility show a significant positive relationship. Finally, when PM2.5 is under the influence of high wind speed, it will increase the TAIEX, which is an interesting finding.

目錄
摘要 I
Abstract II
謝誌 III
目錄 IV
表目錄 VI
第壹章 緒論 1
第一節 研究背景與動機 1
第二節 研究目的 6
第三節 研究架構 8
第貳章 文獻探討與假說發展 9
第一節 天氣效應與情緒與股票報酬之影響 9
第二節 空氣汙染與情緒與股票報酬之影響 14
第參章 研究方法與樣本資料 19
第一節 變數描述 19
第二節 模型設計 24
第三節 樣本資料來源 28
第肆章 實證結果與分析 29
第一節 敘述性統計 29
第二節 相關性分析 30
第三節 迴歸分析 31
第伍章 結論 42
參考文獻 44

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