This article analyzes several IPO patterns in the framework of divergence of opinion. Considering a new industry with few publicly traded companies, the investors in this IPO market do not initially have complete knowledge about the industry, but may learn from other IPOs in the sector. Our...

This article examines the evidence of herd behaviour and stock price co-movement within high-tech stocks in the Taiwan market. We study return dispersion, volatility dispersion and directional co-movement within the industry, finding their relations with high-tech mania and extreme markets. Our...

This paper extends the Hotelling model of spatial competition by incorporating the production technology and labor inputs. A duopolistic game is constructed in which firms choose their locations simultaneously in the first stage, and decide the prices of the product and wages of labor in the...

This study addresses the role of government in reducing media bias that arises from the demand side. Introducing a public-interest media outlet reduces the equilibrium slants that would otherwise exist under laissez-faire. Subsidy for the truthful report and price regulation are designed to...

This study examines the relative competitiveness of online and physical bookstores. Online bookstores have the advantage of being able to provide a wide range of books while minimizing inventory costs, but customers must wait several days for their books. Physical bookstores allow consumers to...

It is well known that the double marginalization problem in the vertical relation can be eliminated by collusion, but it is undesirable because of the monopoly pricing outcome. This study addresses the role of downstream market competition under symbiotic production and demonstrates that...

This article establishes a 2-sided media market in which readers have heterogeneous beliefs, media outlets choose their reporting biases, and advertisement prices are determined by bargaining between media outlets and advertisers. The authors have shown that the presence of advertisers...

Issuers may compete with each other by issuing similar warrants with the same underlying stocks, causing a supply-side effect on warrant markets. The study provides a theory and supported evidence that put warrants on individual stocks are issued by third party banks in Taiwan and that they...

Purpose – The main purpose of this paper is to investigate the relative firms’ performances of equity-based compensation schemes using a panel regression approach from Taiwanese experience. Design/methodology/approach - Previous theory considers executive stock options as an important input...

This paper generalizes Hwang and Mai’s (Am Econ Rev 80:567–575, <CitationRef CitationID="CR10">1990</CitationRef>) model to include labor markets and shows that their results are still valid when the difference of inverse demand slopes is large enough, while, when this difference is small, a monopoly firm always chooses the same...</citationref>