A Study of Sunshine Effect and Weighted Stock Index in Different Countries- Empirical Analysis on the Data from Taiwan
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September 12, 2019A Study of Sunshine Effect and Weighted Stock Index in Different Countries- Empirical Analysis on the Data from Taiwan
ABSTRACT:- This research from the sunshine effect construction target separately to Taiwan weighted index, HSI, US Dow Jones Industrial Average, German DAX, UK Financial Times index, Nikkei 225 Index and US Internet stock index date material frequency and Taiwan Taipei’s rainfall amount, the relative humidity, the accumulation sunshine hours, the temperature and average wind velocity’s date weather material carries on the real diagnosis for the research sign to compare, the first regression analysis discusses Taiwan Taipei’s date weather material with the various indices relations of date material frequency, next the use related analytic method discusses during various indices the relevance, finally again with Saunders (1993) proposed the sunlight effect makes the empirical analysis. The real diagnosis result showed that the Sunshine effect regarding Taiwan weighted index, HSI, US Dow Jones Industrial Average, German DAX, UK Financial Times index, Nikkei 225 Index and US Internet stock index all has the influence relations.
Key words:- Sunshine Effect, Weighted Stock Index, Behavior Finance