This paper examines the impact of market states on the profitability of momentum strategies using weekly data from the Taiwan Stock exchange over the 10-year period 1997-2006. Market states refer to the states of market such as up or down markets. In this paper, the formation period is defined...

This study investigates the effects of board characteristics on R&D investment by utilizing a data set of electronics firms listed on the Taiwan Stock Exchange Corporations. The empirical results indicate that R&D investment is negatively associated with board size and positively associated with...

This study investigates the effects of board characteristics on R&D investment by utilizing a data set of electronics firms listed on the Taiwan Stock Exchange Corporations. The empirical results indicate that R&D investment is negatively associated with board size and positively associated with...

This study examines the effect of independent directors? human capital (independent directors? educational level, CEO experience and international experience) on firms? decisions toward internationalization. Using a panel of electronics firms in Taiwan, the results show that independent...

This paper examines the dividend policy for firms listed on the Taiwan Stock Exchange and test the life cycle hypothesis. The sample involves 6031 observations of dividend payments over the 16-year period 1992-2007. Consistent with the prediction of the life cycle hypothesis, the results...

Abnormal returns earned by target firms at the time of initial acquisition announcements are related to form of payment, degree of resistance, and type of offer. Results indicate that interdependence among these characteristics is important. Previous research suggests that tender offer targets...