This study aims to examine the nonlinear relationship between environmental, social and governance (ESG) corporate financial performance (CFP) using Taiwan Stock Exchange (TSE) listed firms with ESG disclosure 2005 2019. The pooled ordinary least square (OLS) regression estimation results indicate ESG-CFP nexus is a (inverted U-shaped pattern). Furthermore, individual pillars each have differen...

Many stock exchanges set up certain limits on the maximum variation that a stock is allowed to have in a single day. Table 1 gives an overview of the price limit rules of some of the world exchanges. As reflected in the table, among stock exchanges in 41 countries that we obtain information, 23 of them have price limits and 7 of them have some kinds of circuit breaker rules. The normal assertio...

We ask whether the typical investor and the aggregate investor exhibit a bias known as the disposition effect, the tendency to sell investments that are held for a profit at a faster rate than investments held for a loss. We analyse all trading activity on the Taiwan Stock Exchange (TSE) for the five years ending in 1999. Using a dataset that contains all trades (over one billion) and the ident...

This paper presents a type-2 fuzzy rule based expert system to handle uncertainty in complex problems such as portfolio selection. In a type-2 fuzzy expert system both antecedent and consequent have type-2 membership function. This research uses indirect approach fuzzy modeling, where the rules are extracted automatically by implementing a clustering approach. For this purpose, a new cluster an...

explaining dividend policy has been one of the most difficult challenges facing financial economists. despite decades of study, we have yet to completely understand the factors that influence dividend policy and the manner in which these factors interact.the aim of this paper is to examine the relation between dividend policy and share price volatility in tehran stock exchange (tse). the analys...

Genetic network programming (GNP) as an evolutionary computation method has been used for stock trading recently. Former researches confirm the efficiency of trading rules which are created by GNP. In this paper, GNP has been applied for stock portfolio optimization by generating risk-adjusted trading rules. There are two main novelties in this paper: 1) we use conditional Sharp ratio as a risk...

This paper empirically investigates the exchange rate effects of Iranian Rial against Dollar (Rial vs.US) on stock prices in Iran. The sample period for the study has been taken from March 20, 2004 to March 20, 2010 using daily nominal exchange rate of Rial /us and daily closing values of Tehran Stock Exchange. Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model has been use...

The stock selection problem is one of the major issues in the investment industry, which is mainly solved by analyzing financial ratios. However, considering the complexity and imprecise patterns of the stock market, obvious and easy-to-understand investment rules, based on fundamental analysis, are difficult to obtain. Fundamental and technical analyses are two common methods for predicting th...