Cost of health problems caused by stock market volatility: An empirical study in Taiwan

被引：0

作者：

Weng, Pei-Shih ^{[1
]}

Hsiao, Yu-Jen ^{[2
]}

Hsiao, Kai -Yuan ^{[3
,4
]}

Chang, Wei -Shan ^{[3
,4
]}

机构：

[1] Natl Sun Yat Sen Univ, Dept Finance, Kaohsiung, Taiwan

[2] Taipei Med Univ, Execut Master Program Business Adm Biotechnol, Taipei, Taiwan

[3] Fu Jen Catholic Univ, Grad Inst Business Adm, Coll Management, New Taipei City, Taiwan

[4] Fu Jen Catholic Univ, Artificial Intelligence Dev Ctr, New Taipei City, Taiwan

来源：

FINANCE RESEARCH LETTERS | 2023年 / 57卷

关键词：

Stock market volatility; Medical expenses; Emergency; Outpatient; STROKE;

D O I：

10.1016/j.frl.2023.104206

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study highlights the often-overlooked health impacts and related costs endured by individual investors due to market volatility. Leveraging Taiwan's unique market characteristics and healthcare system, we underscore the economic repercussions of health degradation induced by market instability. Analyzing daily medical costs for depression and hypertension patients over 11 years reveals the impact of market turbulence. Specifically, a standard deviation increase in daily market volatility aligns with 4% and 12% surges in daily emergency and outpatient spending, respectively. To avert confounding biases, our empirical models account for market regimes and weather factors, and the outcomes are corroborated through robustness tests.

引用

页数：7

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