Since 2014
Cointegration analysis of tourism demand by Mainland China in Taiwan and stock investment strategy
Journal of Economic & Financial Studies
View Archive Info| Field | Value | |
| Title |
Cointegration analysis of tourism demand by Mainland China in Taiwan and stock investment strategy
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| Creator |
Lan, Yu-Wei
Lin, Dan Lin, Lu |
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| Subject |
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Cointegration analysis; Error correction model; Program trading. G11; G14. |
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| Description |
Mainland China is the most important source of tourism for Taiwan in recent years. The purpose of this paper is to investigate the changes in the long-run demand for tourism in Taiwan by Mainland China. Using program trading and three different data sources, including the stock prices of Regent Taipei (2707), weighted index of the tourism sector (2700) and CSI ETF (0061), we find support for our hypotheses. That is, Taiwan’s tourism market does not fulfil the conditions of a strong-form efficient market hypothesis. Also, positive feedback trading does exit in Taiwan’s tourism market.
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| Publisher |
LAR Center Press
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| Contributor |
—
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| Date |
2015-09-05
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://journalofeconomics.org/index.php/site/article/view/163
10.18533/jefs.v3i06.163 |
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| Source |
Journal of Economic & Financial Studies; Vol 3, No 05 (2015): October; 01-09
2379-9471 2379-9463 |
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| Language |
eng
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| Relation |
http://journalofeconomics.org/index.php/site/article/view/163/110
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| Rights |
Copyright (c) 2015 Yu-Wei Lan, Dan Lin, Lu Lin
http://creativecommons.org/licenses/by-nc/4.0 |
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