Shyh-Weir Tzang

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This paper presents the impact of the macroeconomic condition on the speed of adjustment of capital structure for non-financial firms listed in the Indonesian Stock Exchange from 1992 to 2010. Based on a two-stage OLS and integrated partial adjustment approach, the paper finds that Indonesian firms adjust their leverage faster in bad economic condition and(More)
We investigated the three parameters (mu, sigma, tau) of ex-Gaussian distribution of RT derived from the Conners' continuous performance test (CCPT) and examined the moderating effects of the energetic factors (the inter-stimulus intervals (ISIs) and Blocks) among these three parameters, especially tau, an index describing the positive skew of RT(More)
We apply the approach of [5] by examining whether the portfolios based on the trend-following strategy delivers abnormal returns. Sorted by volatility in previous year, portfolios are traded by following moving average timing strategy to examine their investment performance within the sample period from 1996–2011 for companies listed in the Taiwan stock(More)
Previous researches show that investors are not completely rational. Overconfidence is one of the investors irrationalities that have drawn special attention from academics. This study adopts the method of [1] to investigate the relationship between the overconfidence and stock prices, risks and business cycle in the Taiwan stock market. We find that(More)
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