Ruey-Shii Chen

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This paper attempts to address the connections among the nature of news, insider ownership, stock price, and stock returns. The empirical studies show that stock price could mislead investors' behavior and enhance the impact of the nature of news on stock returns. Besides, the higher stock price is, the less impact analyst forecast revision would create.(More)
Healy and Palepu (1988) found change of dividends contains information contents. However, Benartzi, Michaely, and Thaler (1997) had different perspectives. I am interested in exploring whether investors on stock markets in Taiwan consider that cash dividends contain information contents is due to the different points of view on whether changes of dividends(More)
This study use traditional SCP model to investigate the connection among market structure, conduct, and performance. We classified Taiwan listed companies into 85 industries and using Herfindahl-Hirschman index to measure industry concentration. We find that the changes in industrial concentration will affect the profitability. The more concentrated in(More)
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