The labor force participation rates of older men in Taiwan have dropped substantially over the last decade. Previous studies show that the implementation of the National Health Insurance (NHI) program in 1995 accounts for a decline in female labor force participation. In this paper, we use the...

Most of the literature that investigates the Great Moderation of real gross domestic product (GDP) growth focuses on OECD developed countries, and few studies discuss emerging economies in Asia. By employing quarterly real GDP growth rates over the period 1960-2009 for China, Hong Kong, Korea,...

This paper attempts to analyze corporate tax evasion in a principal-agent framework. We assume that the firm's profit is positively related to managerial effort and that the executive compensation is profit-based. In addition, we consider the situation where the manager might underreport the...

The purpose of this study is to examine the impact on listed tourism industry firms of the relaxation of the policy to allow Mainland China tourists to visit Taiwan directly for sightseeing from a financial viewpoint. First, before the implementation of the policy, this study applied the "event...

Based on the modified Froot and Obstfeld (1991a) simple stochastic macro model, this paper addresses the relative stabilizing performance of a dual exchange rate system from the viewpoint of target zones. We focus on an experiment in which the central bank implements a target zone policy in the...

This paper examines the influence of institutional investor behavior on the stock return synchronicity using a sample of Taiwanese listed companies for the period 2000-2005. We find that stock prices reflect more firm-specific information for firms whose institutional ownerships are higher....

Introduced during the late 1990's, medical savings accounts (MSAs) increase cost sharing between employers and employees. Despite assurances from proponents claiming cost sharing will stem the tide of rising health care prices and expenditures, skeptics argue that MSA enrollment could reduce...