RESEARCH THE DIRECT IMPACT OF CRYPTOCURRENCY ON STOCK RETURN EXCEPTING THE INDIRECT IMPACT THROUGH OVERALL MARKET

The purpose of this dissertation is to examine the direct impact of cryptocurrencies, primarily Bitcoin, on stock returns, as well as to analyze the characteristics of some of the companies which Bitcoin has a large impact on stock returns and the reasons why these phenomena occur. The study examines the returns of three variables, NSDQ100 Index, Bitcoin price, and stock prices of 101 enterprises within NSDQ100 by analyzing the monthly ended figures over the past five years. As the nature of Bitcoin that cannot be directly linked to stock returns, the direct impact of Bitcoin on stock return was discussed and analyzed through two regression analyses of NSDQ100 returns and stock returns, as well as NSDQ100 returns, bitcoin returns and stock returns. This study concludes that the direct impact of Bitcoin on the stock returns of companies in the Technology and Consumer Discretionary sectors, which involve consumer goods, is significant; whereas its impact on the stock returns of companies in the Health Care sector and Consumer Discretionary sector that do not directly provide products is small.

Grantor dc:publisher

Temple University. Libraries

Year dc:date.issued

2023

Author dc:creator

• Kong, Jianping

Advisor dc:contributor.advisor

• Bakshi, Gurdip

Committee members dc:contributor.committeemember

• Rytchkov, Oleg
• Gao Bakshi, Xiaohui
• Tang, Cheng Yong

• Business administration
• Finance
• Bitcoin
• Company industry
• NSDQ100
• Stock return

Statement dc:rights

• IN COPYRIGHT- This Rights Statement can be used for an Item that is in copyright. Using this statement implies that the organization making this Item available has determined that the Item is in copyright and either is the rights-holder, has obtained permission from the rights-holder(s) to make their Work(s) available, or makes the Item available under an exception or limitation to copyright (including Fair Use) that entitles it to make the Item available.

Licence dc:rights.uri

• http://rightsstatements.org/vocab/InC/1.0/

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/20.500.12613/8907

OAI identifier oai:identifier

oai:scholarshare.temple.edu:20.500.12613/8907