Purpose – The purpose of this paper is to examine the relationship between capital expenditures and corporate earnings for 357 manufacturing firms listed on the Taiwan Stock Exchange over the sample period 1992-2002. Design/methodology/approach -The sample period of 11 years is divided into...

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...