Download or read book Covered Warrants in Taiwan written by Chia Ying Chan and published by . This book was released on 2005 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hedging Impacts of Covered Warrants on the Spot Market written by 劉文讓 and published by . This book was released on 2010 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Why Did Warrant Markets Close in China But Not Taiwan written by Wing-Keung Wong and published by . This book was released on 2018 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper bridges a gap in the literature by using moment analysis, CAPM statistics, stochastic dominance (SD) test, and volume analysis to examine investor preferences for warrants between China and Taiwan, and investigating why the market for warrants in China has to close while the market for Taiwan warrants is successful. Using moment analysis, it is shown that that buying China warrants has a higher likelihood of losses than its Taiwan counterpart. Using CAPM analysis, in general, both the Sharpe ratio and Jensen index for warrants from the Taiwan market are more reasonable, while that from the China market is too negative. On the other hand, the Treynor index for China warrants shows that China warrants are highly volatile. This could make investors avoid investing in China warrants which, in turn, could lead to its closure. Using SD analysis, though there is no arbitrage opportunity between the China and Taiwan warrant markets, it is shown that the markets for China and Taiwan warrants are not efficient, and second- and third-order risk averters prefer to invest in China warrants to warrants in Taiwan. This implies that the warrant issuers prefer to issue Taiwan warrants than China warrants. Using volume analysis, the China warrant market is much more active than the Taiwan warrant market. This could imply that there are more speculative activities in China than in Taiwan which, in turn, could lead to China's decision to close its warrant market. The findings in the paper are useful for investors for investment decisions regarding Taiwan and China warrants, for academic analysis for modelling Taiwan and China warrants, and policy makers for policy making related to Taiwan and China warrants. In the future, China may rethink reopening warrant markets and learning from mature-covered warrant markets such as Taiwan how to inhibit excess speculation and educate warrant investors.
Download or read book The Impact of Derivatives Hedging on Stock Market written by San-Lin Chung and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the hedging impact on the underlying stock market using a comprehensive dataset of covered warrants traded in the Taiwan Stock Exchange (TWSE). Since TWSE requires the warrant issuers to conduct dynamic hedging over the life of warrants, we can estimate the number of shares bought or sold for rebalancing the hedging portfolio and measure its impact. We find significant positive abnormal returns and trading volumes before the announcement day of warrants issuance, suggesting that issuers establish their hedging portfolios before the announcement day. The magnitude of the price effect is positively related to the size of the hedging portfolio. Moreover, there is a significantly positive relationship between stock return volatility and the price elasticity of hedging demand (defined as the percentage of shares needed for rebalancing hedge portfolio when the underlying stock price changes 1%). Finally, we also observe significantly negative price effect to the underlying stock before (after) the expiration date for call warrants that are expired out-of-the-money (in-the-money). For call warrants expired in-the-money, the negative price impact is due to the fact that warrants traded in TWSE are cash settlement when exercised, and thus the issuers have to liquidate the hedging portfolio after expiration, which results in selling pressure on the underlying stock.
Download or read book Warrant Issuance and Stock Price written by 田坂翔 and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Short Sales Ban on Put Warrants Evidence from Taiwan Warrants Market written by 吳宗謙 and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk written by and published by . This book was released on 1998 with total page 812 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Judicial Reform in Taiwan written by Neil Chisholm and published by Routledge. This book was released on 2019-11-04 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines Taiwan’s judicial reform process, which began three years after the 1996 transition to democracy, in 1999, when Taiwanese legal and political leaders began discussing how to reform Taiwan’s judicial system to meet the needs of the new social and political conditions. Covering different areas of the law in a comprehensive way, the book considers, for each legal area, problems related to rights and democracy in that field, the debates over reform, how foreign systems inspired reform proposals, the political process of change, and the substantive legal changes that ultimately emerged. The book also sets Taiwan’s legal reforms in their historical and comparative context, and discusses how the reform process continues to evolve.
Download or read book Market Efficiency and Intraday Variables Evidence from the Taiwan Warrants Market written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sustainability of the Theories Developed by Mathematical Finance and Mathematical Economics with Applications written by Wing-Keung Wong and published by MDPI. This book was released on 2020-12-15 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: The topics studied in this Special Issue include a wide range of areas in finance, economics, tourism, management, marketing, and education. The topics in finance include stock market, volatility and excess returns, REIT, warrant and options, herding behavior and trading strategy, supply finance, and corporate finance. The topics in economics including economic growth, income poverty, and political economics.
Download or read book Taiwan written by Denny Roy and published by . This book was released on 2003 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: For centuries, various great powers have both exploited and benefited Taiwan, shaping its multiple and frequently contradictory identities. Offering a narrative of the island's political history, the author contends that it is best understood as a continuous struggle for security.
Download or read book Asian Equity Derivatives Handbook written by and published by . This book was released on 1997 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Political Developments in Taiwan written by United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Asian and Pacific Affairs and published by . This book was released on 1985 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Advances in Investment Analysis and Portfolio Management New Series Vol 7 written by Cheng F. Lee and published by Center for PBBEFR & Airiti Press. This book was released on 2016-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Investment Analysis and Portfolio Management (New Series) is an annual publication designed to disseminate developments in the area of investment analysis and portfolio management. The publication is a forum for statistical and quantitative analyses of issues in security analysis, portfolio management, options, futures, and other related issues. The objective is to promote interaction between academic research in finance, economics, and accounting and applied research in the financial community.
Download or read book Taiwan Doing Business and Investing in Taiwan Guide Volume 1 Strategic and Practical Information written by IBP, Inc. and published by Lulu.com. This book was released on 2016-09-08 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taiwan: Doing Business and Investing in ... Guide Volume 1 Strategic, Practical Information, Regulations, Contacts
Download or read book Taiwan and International Human Rights written by Jerome A. Cohen and published by Springer. This book was released on 2019-05-16 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tells a story of Taiwan’s transformation from an authoritarian regime to a democratic system where human rights are protected as required by international human rights treaties. There were difficult times for human rights protection during the martial law era; however, there has also been remarkable transformation progress in human rights protection thereafter. The book reflects the transformation in Taiwan and elaborates whether or not it is facilitated or hampered by its Confucian tradition. There are a number of institutional arrangements, including the Constitutional Court, the Control Yuan, and the yet-to-be-created National Human Rights Commission, which could play or have already played certain key roles in human rights protections. Taiwan’s voluntarily acceptance of human rights treaties through its implementation legislation and through the Constitutional Court’s introduction of such treaties into its constitutional interpretation are also fully expounded in the book. Taiwan’s NGOs are very active and have played critical roles in enhancing human rights practices. In the areas of civil and political rights, difficult human rights issues concerning the death penalty remain unresolved. But regarding the rights and freedoms in the spheres of personal liberty, expression, privacy, and fair trial (including lay participation in criminal trials), there are in-depth discussions on the respective developments in Taiwan that readers will find interesting. In the areas of economic, social, and cultural rights, the focuses of the book are on the achievements as well as the problems in the realization of the rights to health, a clean environment, adequate housing, and food. The protections of vulnerable groups, including indigenous people, women, LGBT (lesbian, gay, bisexual, and transgender) individuals, the disabled, and foreigners in Taiwan, are also the areas where Taiwan has made recognizable achievements, but still encounters problems. The comprehensive coverage of this book should be able to give readers a well-rounded picture of Taiwan’s human rights performance. Readers will find appealing the story of the effort to achieve high standards of human rights protection in a jurisdiction barred from joining international human rights conventions. This book won the American Society of International Law 2021 Certificate of Merit in a Specialized Area of International Law.
