Based upon an examination of 987 ex-dividend events that took place on the Taiwan Stock Exchange between January 1992 and December 2006, we find that differential taxes are an important factor affecting share prices and the behavior of investors around the ex-dividend day. Ex-day price drop...

Using a unique data set, we find that large individual investors are successful at picking stocks. Large individual investors' correlated trades can not only move synchronous stock prices but also positively predict future returns. More importantly, they tend to trade before major earnings...

Using data for 193 equity funds in Taiwan, we examine whether fund managers behave overconfidently. We show that the higher the fund performance, the more that trading occurs in the next period. In addition, such trading may hurt subsequent performance, although the evidence is marginal. Our...

This paper investigates the effect of house money on the risk taking behavior of individual investors. When gains are more substantial, individuals tend to take greater risk. The house money effect seems to decline over time because the propensity for risk taking following gains is diminished...

Using data from 74 countries between the years of 1960 to 2008, we performed panel regressions and logit models on political settings and the economic situation to identify which factors influence deposit insurance coverage and the probability of changes in coverage. Results reveal that...