Search by...
- Keyword
- Title
- Author
- Subject
- Publisher
Results should have...
- All of these words
- Any of these words
- This exact phrase
- None of these words
Keyword searches may also use the operators
AND, OR, NOT, “ ”, ( )
AND, OR, NOT, “ ”, ( )
Characteristics of Firms Owned by Foreigners on the Taiwanese Stock Market: An Analysis
Beginning of article
In this paper, we investigate the characteristics of foreign ownership on the Taiwanese Stock Market, using firm data from 2001 to 2003. We find that foreign investors tend to prefer firms with certain attributes, such as large size, issuing foreign securities, high ROE, low leverage ratio, and low employee stock bonuses. They also prefer MSCI-concept and China-concept stocks.
1. Introduction
The Taiwanese Stock Market is one of the most important emerging stock markets in the world. Table 1 shows the fractions of shares held by individual, institutional and foreign investors from 1994 to 2003. Foreign investors' transactions have increased dramatically in the past several …
