Five elements and stock market

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.