Chung, San-Lin; Liu, Wen-Rang; Tsai, Wei-Che - In: Journal of Banking & Finance 42 (2014) C, pp. 123-133
We examine the impact of derivatives hedging on the spot market using accurate hedge ratios of covered warrants traded in the Taiwan Stock Exchange (TWSE). Results present significant positive abnormal returns and trading volumes before the announcement of a warrant’s issuance, and the effect...