Abstract
Many of Taiwan’s industries are still deeply influenced by traditional customs. The characteristics of the five elements of each day should have a considerable relationship with their stock prices. This study adopts reliable quantitative indicators. Through statistical analysis of differences, correlations, regressions, etc., we observe whether the extent to which Taiwanese firms are affected by the five elements varies with different factors such as industry, company life cycle, education level of the operators, and the location of the company. So far, the relevant research on the five elements and the stock market is still rare. This topic has research value.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
Chan, M.W.L., Khanthavit, A., Thomas, H.: Seasonality and cultural influences on four Asian stock markets. Asia Pac. J. Manag. 13, 1–24 (1997)
Lee, C.F., Yen, G., Chang, C.: Business Finance in Less Developed Capital Markets. The Chinese New Year, common stock purchasing and cumulative raw returns: Is Taiwan’s stock market informationally efficient? pp. 101–105. Greenwood Press, Westport (1992)
Tong, W.H.S.: An analysis of the January effect of the United States, Taiwan and South Korean stock returns. Asia Pac. J. Manag. 9, 189–207 (1992)
Yen, C.L., Shyy, C.: Chinese New Year effect in Asian stock markets. Taiwan Natl. Univ. Manag. J. 4, 417–436 (1993)
Fama, E.F., French, K.R.: A five-factor asset pricing model. J. Financ. Econ. 116, 1–22 (2015)
Acknowledgments
Constructive comments of editors and anonymous referees are gratefully acknowledged. This research is partly supported by the National Science Council of Taiwan (NSC 104-2815-C-468-041-H and NSC 102-2815-C-468-019-H) and by Asia University of Taiwan (ASIA-105-CMUH-10 and ASIA104-CMUH-12).
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 Springer International Publishing AG, part of Springer Nature
About this paper
Cite this paper
Liao, MH., Hong, SH., Yoshimura, N. (2019). Five Elements and Stock Market. In: Barolli, L., Xhafa, F., Javaid, N., Enokido, T. (eds) Innovative Mobile and Internet Services in Ubiquitous Computing. IMIS 2018. Advances in Intelligent Systems and Computing, vol 773. Springer, Cham. https://doi.org/10.1007/978-3-319-93554-6_88
Download citation
DOI: https://doi.org/10.1007/978-3-319-93554-6_88
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-93553-9
Online ISBN: 978-3-319-93554-6
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)