This study examines direct investments of Taiwan firms in China (DIC) and firm performance consequences from industrial perspectives. It is found that a U-shaped relationship exists for electronic firms but an inverted-S-shaped relationship exists for non-electronic firms. The empirical results...

This study uses stochastic dominance theory, which is distribution free, to evaluate eight foreign exchange hedging strategies for six currencies in terms of US Dollar from 1990 to 2007. Our results show that 'always hedge' is the best performing strategy for European currencies such as British...

Prior studies document that the book-to-market (BM) effect is absent in the Taiwan stock market. Using Taiwanese data covering from 1991 to 2006, we show that, after controlling for the size effect and the Fama and French's (1993) risk factors, the BM effect only exists for those firms with low...

This study uses the stochastic dominance theory, which is distribution-free, to examine the relationship between realised returns and firm size for companies listed on the Taiwan Stock Exchange between 1982 and 1999. The findings show that small-cap and large-cap portfolios outperform both...

This article examines the effect of structural change on the flow of information between the agricultural futures markets of the United States and China after 2002. Structural changes are found for futures price series in exchanges in both countries—specifically, the Chicago Board of Trade,...

Purpose – The relative performance of five popular nonzero-investment strategies, including Size, book-to-market ratios, earnings-to-price (E/P) ratios, cash flow-to-price (CF/P) ratios and dividend-to-price ratios, and their corresponding zero-investment strategies (also known as premiums)...