We study the payout policy of Taiwanese firms over 2009-2011 and collect payout events of three forms: distributing cash dividends, conducting share repurchases and reducing capital. Due to the dominant role of dividends, we focus on four issues pertaining to dividends. The first issue is on the...

Taiwanese regulations mandate strict and detailed guidelines for repurchase programs. This provides us a superb opportunity to examine the corporate behavior by using a comprehensive dataset of more than 3,000 events of Taiwanese corporate repurchase programs from 2000 to 2011. We find that...

Chinese Abstract:...

On 8 Aug 2012, the prominent Chinese-language Next Magazine revealed a high-profile scandal caused by the son of a director in the board of Yungta Financial Holding. Director Lee's son is suspicious of raping and taking photos of many young models. Yungta announced the resignation of Mr. Lee as...

Parente and Prescott (1993) analyzed cross country economic growth data over the period 1960-1995 and concluded that there is no evidence supporting the existence of poverty trap. In our study we attempt to discuss this issue from the viewpoint of institutional economics. Although we do not...

Chinese Abstract:...

Taiwanese firms must follow strict regulations when implementing repurchase programs. The mean (median) of completion rates is 69.2% (82.7%) for the purpose of cancelling and 68.0% (80.0%) for the purpose of transferring. We try to identify the factors determining the completion rate of a...

Chinese Abstract:...

Taiwanese firms sometimes make stock repurchases or reduce capital as alternative forms of paying earnings in place of distributing cash dividends. Yet, distributing dividends is still the dominant payout form. In addition, we find some impressive evidence on Taiwan market. First, both the...

This paper straightforwardly discloses how an article written by Taiwanese scholars and published in Applied Economics is ridden with suspicious omissions. This misconduct leads to misinformation being printed in prominent journals as well as mistakenly listing eight medical doctors and three...