隨著金融商品類型的多樣化，市場上存在眾多的資產滿足消費者的各種需求，而高爾夫球這項運動近幾年因微笑球后「曾雅妮」在國際間知名使其市場更加熱絡，此外，高爾夫球這項運動同時具備了休閒、運動、交際…等特性，因此高爾夫球證這項資產標的之存在便不僅止於投資之功能。
　　提到資產價格之評定，都避免不了外在總體經濟環境之干擾，本研究主要之目的在於探索各項總體經濟指標對台灣之高爾夫球證市場是否存在顯著之影響，透過文獻的探討選定了消費者物價指數、躉售物價指數、狹義貨幣總計數、廣義貨幣總計數、加權平均股價指數、五大銀行利率、即期匯率、遠期匯率、領先指標、同時指標等10項變數進行假說之設定。
　　由2008年1月~2013年2月之時間序列月資料，並透過統計軟體E-views之各項檢定工具對本研究中所探討的兩項假說進行檢測，假說一：總體經濟變數對高爾夫球證價格存在顯著影響。假說二：大型體育賽事前後資產價格將產生結構性的變化。
　　實證結果顯示，消費者物價指數、躉售物價指物、廣義貨幣總計數、加權平均股價指數、五大銀行利率皆對高爾夫球證價格存在正向影響；而本研究所設定之大型體育事件前後，高爾夫球證之價格並未存在結構性之改變。

　　With the diversification of financial instruments, there are variety of assets to meet the needs of consumers. Golf thrived due to Tseng-Ya-Ni’s reputation in recent years. In addition, golf has the following characteristics: leisure, sports, communication at the same time. So the existence of such assets –golf club card is not just investments.
　　When it comes to asset pricing the external macroeconomic environment will come to our mind. The purpose of this study is to explore whether each of the macroeconomic indicator has significant influence on the asset. Through the literature review CPI, WPI, M1B, M2, Stock index, Interest rate, Spot、Forward exchange rate, Leading、Coincident indicators are selected to test the hypothesis.
　　From January 2008 to February 2013 and through the various test tools of statistical software E-views to detect the two hypotheses:(1) Macroeconomic variables have impact on the price of golf club card. (2)Major sports events will cause structural changes on the assets.
　　The empirical study shows that the following indexes show positive impact on the price of golf club card: CPI, WPI, M2, Stock index, Interest rate. Furthermore, there isn’t any structural change on asset price among major sports event.

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