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THE RELATIONSHIP BETWEEN THE BIO-ENERGY CONCEPT STOCKS IN TAIWAN AND THE INTERNATIONAL STOCK MARKETS
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Chia-Hsing Huang 
, Liang-Chun Ho
Abstract
This research explores the relationship among the bio-energy company stock index in Taiwan, TAIEX, DJI, Nikkei 225 and SSE composite index for a period from January 1, 2005 to March 11, 2008. Test results indicate two things are noteworthy: 1. Granger causality tests show that the interaction between the bio-energy company stock index in Taiwan and TAIEX is one-way only; however, that between the bio-energy company stock index in Taiwan and DJI is two-way. 2. According to the results of variance decompositions, though TAIEX has the highest explanation power; nevertheless, the explanation strength tends to decrease. On the contrary, DJI and Nikkei 225 manifest constantly increasing strength in explanation. Accordingly, the influence of DJI upon the bio-energy company stock index in Taiwan keeps rising and can’t be ignored.
Keywords: Bio-Energy Concept Stocks, International Stock Markets
How to cite this paper: Huang, C.-H., & Ho, L.-C. (2008). The relationship between the bio-energy concept stocks in Taiwan and the international stock markets [Special issue]. Corporate Ownership & Control, 5(4-5), 437-443. https://doi.org/10.22495/cocv5i4c5p3
