This study investigated companies publicly listed in Taiwan from 2002 to 2010 to examine whether independent directors improve the quality of earnings and analyzed whether the control rights of a controlling shareholder mitigate the impact of independent directors on earnings quality. Empirical...

This study investigated companies publicly listed in Taiwan from 2002 to 2010 to examine whether independent directors improve the quality of earnings and analyzed whether the control rights of a controlling shareholder mitigate the impact of independent directors on earnings quality. Empirical...

This study examines the incremental information content of components of earnings by regressing future net income of earnings¡¯ components in a series of multivariate models. We find that the components of operating cash flow and accruals provide more information to effectively predict future...

Under fairly basic rationales, this paper provides a more general microstructure model of price quotation in an order driven market. Specifically, as an extension of Handa and Schwartz (1996), we decompose the equilibrium of the bid-ask spread, which is derived as a function of the weighted...

We analyze the announcement price behavior of independent director appointments stemming from monitoring, signaling, advising effects and moderating effects of controlling shareholders. Based upon appointments samples made by firms listed on the Taiwan Stock Exchange, we find that the cumulative...

This paper presents an integrated microstructure model of risk-averse uninformed and informed traders for the evolution of liquidity. Under an actively monitoring market, limit order book as a medium for information and order strategies of traders, thereby market order arrival of informed...

This paper analyzes the effects of removing price limits and term structure upon order-submission behaviors in IPOs. Many Emerging markets impose limits on trading prices within a trading day to prevent the market from overreaction, especially in IPOs market. With a sample of Taiwan IPOs, the...

Chinese Abstract: 本文檢定企業之媒體管理與後續發生財務危機之相關性。以台灣50 成份 股為訓練樣本，使用支援向量機的演算法建立正負面新聞分類的依據。針對台 灣證券市場在1995 年至2010...

This work comprehensively investigates from the perspective of corporate governance and behavioral finance whether the overconfident behavior of a CEO could drive a subsequent corporate default. Using matched samples of listed TSEC firms in Taiwan that had experienced corporate defaults. The...