The Co-Movement between Taiwan Stock Market and Macroeconomics International Stock Market before and after the Financial Tsunami

[[abstract]]本論文之資料包含台灣加權股價指數及8個主要股票市場指數以及9個總體經濟指標共17個變數，研究期間從2001年到2013年的季資料共52筆，使用因素分析與迴歸分析等研究方法來探討股市與總體經濟的連動性。並更進一步探討金融海嘯發生前後國際股市、總體經濟對台灣股市連動性的影響。 研究結果顯示：根據因素分析可將17個變數萃取出三個因素，分別為內在因素的影響、開發國家的影響及中國的影響。對台灣而言，影響最大的為開發國家的影響；經過金融海嘯之後，開發國家的影響降低了，而中國的股票市場在事件過後的影響則是更加顯著。[[abstract]]This study used Taiwan Weighted Stock Index eight international stock markets indices and nine macroeconomics which are a total of seventeen indices The period of research ranges from 2001 to 2013 utilizing a total of 52 pen quarter data This research studies the stock market and macroeconomics co-movement by means of factor analysis and regression analysis This research also studies how international stock markets indices and macroeconomics influence Taiwan Weighted Stock Index during the Financial Tsunami The research results showed: seventeen indices of international stock markets indices and macroeconomics can be categorized to three factors the influences of internal factors the influences of developing countries and the influences of China The developing countries had the most maximal influences to Taiwan Weighted Stock Index After the Financial Tsunami the influences of developing countries drop down and the influences of China is significantly on the ris