An analysis of stock manipulation in Taiwan
| Autor: | CHEN LI-YU, 陳麗玉 |
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| Rok vydání: | 2018 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 106 This paper examines the stock manipulations in the Taiwan stock markets. We hand-collect a past decade prosecuted manipulation cases involving Anti-Manipulation Clause No. 155. We examine whether there are differences in trading characteristics, such as stock price, turnover ratio, and volatility, between guilty cases and innocent cases. Overall, we document that the changes in stock price and stock volatility during the event and non-event periods are irrelevant to the court decision of stock manipulation. However, changes in trading volume (turnover ratio) matters in explaining the court decision, specifically for pump-and-dump cases and actual purchases/sales cases. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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