This paper uses GARCH (1,1)-M modelling to examine the relationships between the systematic risk and the stock return in the banking industry in Taiwan, Hong Kong, and China from 1995 through 2003. The banking industry comprises the large banks and the small-medium size banks. A comparison of...

This study is designated to investigate the impact on market quality stemming from the reduction in transaction tax during the early stages of the development of Taiwan Futures Exchange (TAIFEX). Alongside an examination of the various impacts on market liquidity, volatility and government tax...

The third industrial revolution, combining Internet technology with globalization, produces an increasingly complicated e-business environment. There is no wonder that skew distributions, a striking empirical regularity in the hypercompetitive digital economy, have attracted the attention of...