臺灣人口死亡率對產業報酬的影響

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Title:	臺灣人口死亡率對產業報酬的影響
Other Titles:	The effect of mortality rate on industry returns in Taiwan 台灣人口死亡率對產業報酬的影響
Authors:	蘇藝馨;Su, Yi-shin
Contributors:	淡江大學保險學系保險經營碩士班繆震宇
Keywords:	死亡率;產業報酬;mortality;Industry Returns
Date:	2010
Issue Date:	2010-09-23 16:00:19 (UTC+8)
Abstract:	本文利用台灣人口死亡率資料和國內19家產業的個別股票報酬進行迴歸，研究台灣人口死亡率之變動對個別產業股票報酬是否產生影響，假設死亡率確實對個別產業的股票報酬率產生影響，則可推測未來哪些產業將由於死亡率的變動，因而從資本市場上興起，保險公司也可藉此做為投資運用之參考，以降低其投資風險，增加投資利潤。因此，本文希冀能提供進一步的資訊，使保險公司在面臨人口老化的衝擊下，於資本市場中尋求規避死亡率風險的最適投資組合管道。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.
Appears in Collections:	[Graduate Institute & Department of Insurance Insurance] Thesis

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