English  |  正體中文  |  简体中文  |  Items with full text/Total items : 51931/87076 (60%)
Visitors : 8479437      Online Users : 289
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/23640


    Title: Exchange Listing Changes : Volatility and Liquidity Effects in Taiwan
    Authors: Blenman, Lloyd P.;Chen, Dar-hsin;段昌文;Duan, Chang-wen
    Contributors: 淡江大學財務金融學系
    Keywords: Volatility;Liquidity;Abnormal Returns;Taiwan;Listing Transfer
    Date: 2003-12-01
    Issue Date: 2009-11-30 17:47:36 (UTC+8)
    Abstract: We examine the volatility, liquidity and returns effects on stocks that switch exchange listings from the ROSE to the TSE in Taiwan from 1992 to 2000. Switching Jims earn statistically positive returns before the transfer day and earn statistically negative returns afier that day. We find evidence of improved liquidity, ownership dispersion and actual trading volume for such firms. The relative volatility of trading volume,compared against the firms ' own histories, and volatility of return also increase after a listing change. We show that increased trading volume and liquidity are associated with the abnormal returns around the transfer date. Wefind no evidence that the past earnings of firms significantly affect the abnormal returns realized in the post-listing period.
    Relation: Banking and Finance 1(1), pp.45-72
    Appears in Collections:[財務金融學系暨研究所] 期刊論文

    Files in This Item:

    File SizeFormat
    index.html0KbHTML52View/Open

    All items in 機構典藏 are protected by copyright, with all rights reserved.


    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback