Chiao, Chaoshin; Hung, Ken; Nwanna, Gladson - In: Journal of Emerging Market Finance 3 (2004) 1, pp. 37-61
In this paper, we find evidence of the intra- and inter-period beta instability of firms in the Taiwan stock market during its financial development from 1982 to 1998. Particularly noteworthy is the result that the proportions of firms exhibiting beta instability, in the full sample and two...