The impact of macroeconomic variables food safety issue and U S QE on Taiwanese convenience store stock price

  • 史 可維

Student thesis: Master's Thesis


This study examines the effects of domestic and international macroeconomic factors on the stock prices of chain convenience stores in Taiwan The convenience store industry is labor-intensive oriented toward the sale of daily necessities and has a high domestic demand Based on the labor-intensive feature this study takes minimum wage and monthly revenue as independent variables; based on the daily necessities feature this study takes macroeconomic factors to examine whether domestic and global economics factors have effects on the domestic-demand industry These macroeconomics variables include the discount rate of the central bank of R O C real exchange rate CPI and oil price The dummy variables are food scandals in Taiwan the plasticizer event and the poisonous starch event Food scandals have given rise to wide concern for customers because of food safety issues In addition three rounds of U S Quantitative Easing are also regarded as independent variables as well The results suggested that monthly revenue and minimum wage had no effects on convenience store prices As for the domestic economic factors the real exchange rate and the poisonous starch food scandal event did not have effects on the stock prices of convenience stores Global economics factors like the U S QE and oil price were not found to have an effect on the stock prices of convenience stores in Taiwan However the consumer price index (CPI) was found to have a positive impact on the stock prices of convenience stores in Taiwan The discount rate and the plasticizer food scandal had negative effects on the stock prices of convenience stores in Taiwan Keywords: Convenience stores Stock price U S QE Food safety issue
Date of Award2016 Jun 27
Original languageEnglish
SupervisorHsin-Hong Kang (Supervisor)

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