Article(electronic)#1March 24, 2006
STOCK MARKET VALUATIONS OF R&D AND ELECTRONICS FIRMS DURING TAIWAN'S RECENT ECONOMIC TRANSITION: stock market valuations
In: The Developing Economies, Volume 44, Issue 1, p. 53-78
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Article(print)#22006
The stock market valuations of R and D and electronics firms during Taiwan's recent economic transition
In: The developing economies, Volume 44, Issue 1, p. 53-78
ISSN: 0012-1533
The objective of this paper is to study the market valuation of R&D investments in the Taiwan stock market from July 1988 to June 2002. The motivation stems from Taiwan's recent economic transition from a labor-intensive, then to a capital-intensive, and currently to a technology-based economy. The results support not only the existence but also the persistence of R&D-associated mispricing. More importantly, it has become stronger as the electronics industry gradually dominates the economy. Firstly, R&D-intensive stocks tend to outperform stocks with little or no R&D. Secondly, the R&D-intensity effect cannot fully be attributed to firm size. Thirdly, the R&D-intensity effect is more pronounced for firms in the electronics industry after 1996. (Dev Econ/GIGA)
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World Affairs Online
Article(electronic)#3March 18, 2011
INSTITUTIONAL TRADING AND OPENING PRICE BEHAVIOR: EVIDENCE FROM A FAST-EMERGING MARKET
In: The journal of financial research: the journal of the Southern Finance Association and the Southwestern Finance Association, Volume 34, Issue 1, p. 131-154
ISSN: 1475-6803
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Article(electronic)#4January 2008
Mispricing of Research and Development Investments in a Rapidly Emerging and Electronics-Dominated Market
In: Emerging markets, finance and trade: EMFT, Volume 44, Issue 1, p. 95-116
ISSN: 1558-0938
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Article(electronic)#5November 2015
Trading behavior and stock returns in Japan
In: The quarterly review of economics and finance, Volume 58, p. 200-212
ISSN: 1062-9769
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