台灣比特幣概念股之研究

由於比特幣等電子加密貨幣的興起，衍生出新的投資標的，而台灣股市中挖礦設備產業鏈中之板卡產業族群，股價似有隨著比特幣波動現象，了解該類股股價、營業收入與比特幣價格的相關程度，可據此作為投資人選股之參考。因此本研究以台灣股票市場上市(櫃)板卡產業公司為研究對象，研究期間為2014年1月至2018年10月，探討該類股股價、月營收與比特幣價格之關係。主要研究結果如下： 1.台灣股市比特幣概念股中板卡產業之上市(櫃)公司股價與比特幣價格間大多有顯著正相關，比特幣效應具有雨露均霑之勢。 2.台灣股市比特幣概念股中板卡產業之上市(櫃)公司月營收與比特幣價格，亦大多具有顯著正相關。由此可知，台灣股票市場比特幣概念股與比特幣價格有相關性，其中以撼訊股票日均價、公司月營收與比特幣相關程度較其他個股為高。因此，投資人在尋求投資標的時，除因新聞題材所產生的心理預期外，仍應依黃寶慧(2013、2017、2018) 所提出之選股十大構面建構選股策略，並對該股票內在基本價值審慎評估。

關鍵字

選股十大構面；撼訊；板卡產業；比特幣

並列摘要

As the rise of electronic cryptocurrencies such as bitcoin, new investment targets have been derived. In Taiwan stock market, the stock prices of the mother board companies and display card companies, which are in the industry chain of mining equipment, seem to have fluctuations in bitcoin. If investors can understand the correlation between the stock price, operating revenue and bitcoin price, they can use this as a reference for stock selection. For the above reason, this study aimed to explore the correlation between the stock price of such sector, monthly revenue and the bitcoin price. The subjects of this study were the listed mother board companies and display card companies at stock exchange market or over-the-counter market in Taiwan. The research period was from January 2014 to October 2018. The results showed that among many of the bitcoin concept stocks in Taiwan stock market, there was a significant positive correlation between the stock price of mother board companies and display card companies, their monthly revenue and the bitcoin price. Based on the result, this study proved that the bitcoin concept stocks in Taiwan stock market were related to bitcoin price. Among them, the average daily stock price and monthly revenue of Tul Corporation had higher correlated with bitcoin than that in other stocks. Beside the news and mental influence, Huang (2013, 2017, 2018) indicated that, while investors are choosing stocks, they need to assess the top ten options of stock and the intrinsic basic value of the stock.