本論文以2000年至2015年間全球42個國家的股票市場為研究對象，實證探討國家治理品質對股票市場報酬率風險的影響，並依據實證結果提出相關政策意涵與建議。實證結果發現國家整體治理品質愈佳，則可以顯著降低股票市場的風險；特別是在提高政府效能、管制品質、以及貪汙控制性上，可以顯著降低股票市場的風險。 This thesis uses the stock market data on 42 countries in the world from 2000 to 2015, and empirically explores the impact of national governance quality on the stock market return risk. Some relevant policy implications and suggestions are based on the empirical results. The empirical results show that countries with better quality of the national governance can significantly reduce the risk of the stock market; especially in improving government efficiency, regulatory quality, and corruption control, can significantly reduce the risk of the stock market.
