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The purpose of the study was to investigate the lead-lag relationship and the influence degree by comparing the beverage-related industries, including tea (Vietnam) imports, coffee imports, the sales value of beverages manufacturing, the sales of beverage serving activities, the sales of convenience stores, the number of profit-seeking enterprise of beverage serving activities, the number of profit-seeking enterprise of convenience stores, with the Taiwan’s business cycles. The study applies the data published by Taiwan’s National Development Council, Taiwan Economic Journal, Executive Yuan, Ministry of Finance, and Ministry of Economic Affairs over for 240 months from January 2000 to December 2019.The chronology identifies the dates of peaks and troughs that frame economic recessions and expansions. The first, tea (Vietnam) imports was a leading indicator in the peak and trough period of the stock market, and coffee imports was a leading indicator in a trough period of the business cycles. Both of their percentage difference were the maximum of the others. The second, both the business cycles and the stock market, the sales value of beverages manufacturing was a lagging indicator in the peak and trough period. Manufacturing of beverages is the upper stream of the beverage industry, and goods are easy to keep so the influence degree is smaller. The third, both the business cycles and the stock market, the sales of beverage serving activities, the sales of convenience stores, the number of profit-seeking enterprise of beverage serving activities, the number of profit-seeking enterprise of convenience stores, were lagging indicators in the peak period as well as leading indicators in the trough period. The government's timely promotion of the economic revitalization plan in response to the boom. The number of profit-seeking enterprise was growing year by year, and then the beverage serving activities has low fixed costs and fast store openings so the percentage difference was bigger. |