haku: @author Reyes, M. G. / yhteensä: 1
viite: 1 / 1
« edellinen | seuraava »
| Tekijä: | Kwan, F. B. Reyes, M. G. |
| Otsikko: | Price effects of stock market liberalization in Taiwan |
| Lehti: | Quarterly Review of Economics and Finance
1997 : SUMMER, VOL. 37:2, p. 511-522 |
| Asiasana: | FOREIGN INVESTMENT STOCK MARKETS LIBERALISM PRICES TAIWAN |
| Kieli: | eng |
| Tiivistelmä: | This article analyzes the impact of stock market liberalization on the return and volatility of the Taiwan Weighted Index. The GARCH methodology was used to investigate the distribution of weekly stock returns during the eight years surrounding the implementation of liberalization measures effected in 1991 January. The tests show that the liberalization measures have reduced volatility in Taiwan's stock market. The results indicate that the distribution of stock returns has changed with the onset of liberalization. After liberalization Taiwan's stock returns are not only less volatile but also more efficient in processing information compared to the period before. |
« edellinen | seuraava »
SCIMA