title: Stock or stroke? Stock market movement and stroke incidence in Taiwan.
abstract: This paper investigates the impact of stock market movement on incidences of stroke utilizing population-based aggregate data in Taiwan. Using the daily data from the Taiwan Stock Exchange Capitalization Weighted Stock Index and from the National Health Insurance Research Database during 2001/1/1-2007/12/31, which consist of 2556 observations, we examine the effects of stock market on stroke incidence - the level effect and the daily change effects. In general, we find that both a low stock index level and a daily fall in the stock index are associated with greater incidences of stroke. We further partition the data on sex and age. The level effect is found to be significant for either gender, in the 45-64 and 65 ≥ age groups. In addition, two daily change effects are found to be significant for males and the elderly. Although stockholdings can increase wealth, they can also increase stroke incidence, thereby representing a cost to health.
authors.affiliation: Department of Economics, National Taipei University, 151, University Rd., San Shia, New Taipei 237, Taiwan.
authors.forename: Chun-Chih
authors.initials: CC
authors.lastname: Chen
authors.forename: Chin-Shyan
authors.initials: CS
authors.lastname: Chen
authors.forename: Tsai-Ching
authors.initials: TC
authors.lastname: Liu
authors.forename: Ying-Tzu
authors.initials: YT
authors.lastname: Lin
mesh_terms: D000368:Aged; D016208:Databases, Factual; D005260:Female; D006801:Humans; D015994:Incidence; D007449:Investments / Q000191:economics*; D008297:Male; D008875:Middle Aged; D012307:Risk Factors; D020521:Stroke / Q000453:epidemiology*; D013624:Taiwan / Q000453:epidemiology