Lin Shu-Hui, Wang Chien-Ho, Liu Tsai-Ching, Chen Chin-Shyan
Department of Finance, National Changhua University of Education, 2, Shi-Da Road, Changhua City, 500, Taiwan.
Department of Economics, National Taipei University, 151, University Rd., San Shia, New Taipei City, 23741, Taiwan.
J Urban Health. 2015 Oct;92(5):995-1006. doi: 10.1007/s11524-015-9964-1.
Using 10-year population data from 2000 through 2009 in Taiwan, this is the first paper to analyze the relationship between margin trading in stock markets and stroke hospitalizations. The results show that 3 and 6 days after an increase of margin trading in the Taiwan stock markets are associated with greater stoke hospitalizations. In general, a 1 % increase in total margin trading positions is associated with an increment of 2.5 in the total number of stroke hospitalizations, where the mean number of hospital admissions is 233 cases a day. We further examine the effects of margin trading by gender and age groups and find that the effects of margin trading are significant for males and those who are 45-74 years old only. In summary, buying stocks with money you do not have is quite risky, especially if the prices of those stocks fall past a certain level or if there is a sudden and severe drop in the stock market. There is also a hidden danger to one's health from margin trading. A person should be cautious before conducting margin trading, because while it can be quite profitable, danger always lurks just around the corner.
利用台湾地区2000年至2009年的10年人口数据，本文首次分析了股票市场的融资融券交易与中风住院之间的关系。结果显示，台湾股票市场融资融券交易增加后的3天和6天，中风住院人数更多。总体而言，融资融券交易总头寸每增加1%，中风住院总人数就会增加2.5例，而平均每天的住院人数为233例。我们进一步按性别和年龄组考察了融资融券交易的影响，发现融资融券交易的影响仅对男性以及年龄在45至74岁之间的人群显著。总之，用你没有的钱买股票风险很大，尤其是当那些股票价格跌破一定水平或者股市突然大幅下跌时。融资融券交易对人的健康也存在隐患。一个人在进行融资融券交易之前应该谨慎，因为虽然它可能利润丰厚，但危险总是近在咫尺。
