期刊論文
| 學年 | 97 |
|---|---|
| 學期 | 1 |
| 出版（發表）日期 | 2008-09-01 |
| 作品名稱 | Does Foreign Investors Trade Predict Stock Return ? Evidence from Taiwan |
| 作品名稱（其他語言） | |
| 著者 | Lai, Chia-jui; 婁國仁; Lou, Kuo-ren; Shiu, Cheng-yi |
| 單位 | 淡江大學經營決策學系 |
| 出版者 | 淡江大學 |
| 著錄名稱、卷期、頁數 | International Journal of Information and Management Sciences 19(3), pp.477-494 |
| 摘要 | This paper analyzes the trade of foreign investors in Taiwan stock market by examining the firm level daily data. Foreign investors tend to buy stocks of past winners and to sell stocks of losers, implying that foreign investors are momentum traders. For large size or low book-to-market stocks, we find the trade of foreign investors can positively predict future returns. We interpret these results as foreign investors may have more information advantage or have less information disadvantage than local investors have in those stocks. |
| 關鍵字 | Foreign Investors; Information Advantage; Characteristics |
| 語言 | en |
| ISSN | 1017-1819 |
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| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/50402 ) |