In this study, we analyze the information content of the TXO market using decoupled O/S ratio. First, we find that, among four classes of traders, only foreign institutional investors have significant predictive power in the TXO market, thereby providing evidence that foreign investor flows do...

This study discusses the gradual shift of the Taiwanese government toward deregulation. Using the traditional variance ratio, nonparametric-based variance ratio tests and a rolling variance ratio test, this study examines the impact of liberalization on market efficiency in Taiwan. The results...

The casino entertainment industry is an intensely competitive environment with many operational risks, explaining why casino managers highly prioritize performance evaluation. This study develops a performance evaluation model based on data envelopment analysis (DEA) to determine casino...