本研究建立了兩個假說，假說一認為死亡率的變動不會影響個別產業報酬；假說二認為死亡率的變動會影響個別產業報酬。本文的實證結果支持假說二，並不支持假說一，即死亡率之變動的確會影響個別產業報酬。 In this article, we examine the relationship between mortality rate and industry returns in Taiwan. We establish two hypotheses in the paper. The first hypothesis states that mortality of persons has not effect on industry returns. The second hypothesis states that mortality of persons has effect on industry returns. The result supports the second hypothesis. Therefore, mortality of persons in Taiwan has effect on industry returns.
