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Available. Open Access. Open Access
Article
Publication date: 2 November 2020

Tun-Ya Yang, Si-Yuan Huang, Wei-Che Tsai and Pei-Shih Weng

This paper aims to investigate the impact of day trading on market quality on the Taiwan stock market with the implementation of a unique policy change. This paper examines 396…

2093

Abstract

This paper aims to investigate the impact of day trading on market quality on the Taiwan stock market with the implementation of a unique policy change. This paper examines 396 listed stocks from June 2015 to October 2016, a period when the stock market in Taiwan officially approved selected stocks for day trading for all investors. Within the sample period, the empirical findings show that day trading increases the bid–ask spread, price depth and stock volatility, indicating that day trading activities not only cause higher transaction costs and trading risk but also raise the market’s ability to absorb price impact. This paper considers two-stage regression and tests the exogenous shock because of further relaxation for day trading to deal with the possible endogenous problem and the main findings remain consistent. Since early 2014, the Taiwan stock market has been experiencing a distinct growth in trading volume after unwinding the day trading; however, the results show that the impacts of stock day trading on market quality are not all positive.

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Journal of Derivatives and Quantitative Studies: 선물연구, vol. 28 no. 4
Type: Research Article
ISSN: 1229-988X

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Book part
Publication date: 15 March 2022

Yi-Ling Chen, Hong-Yu Luo, Wei-Che Tsai and Hang Zhang

This research applies a static hedging portfolio method derived from Derman, Ergener, and Kani (1995) (henceforth Derman's SHP method) and a new SHP method with European…

Abstract

This research applies a static hedging portfolio method derived from Derman, Ergener, and Kani (1995) (henceforth Derman's SHP method) and a new SHP method with European cash-or-nothing binary options developed by Chung, Shih, and Tsai (2013) to price European continuous double barrier (ECDB) options and the rebates of the ECDB options. Our numerical results indicate that the new SHP method outperforms Derman's SHP method in terms of efficiency and effectiveness under all circumstances.

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Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-80117-313-1

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Expert briefing
Publication date: 7 January 2019

Relations between sub-national governments in Taiwan and China.

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DOI: 10.1108/OXAN-DB240989

ISSN: 2633-304X

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Geographic
Topical
Available. Open Access. Open Access
Article
Publication date: 10 September 2021

Jun Sik Kim and Sol Kim

This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications…

1744

Abstract

This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications, citations, impact factors, and centrality indices grew up in early 2010s, and diminished in 2020. Keyword network analysis reveals the JDQS's main keywords including behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility, and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. In comparison between number of views and downloads for JDQS articles, we find that recent changes in publisher and editorial and publishing policies have increased visibility of JDQS.

Details

Journal of Derivatives and Quantitative Studies: 선물연구, vol. 29 no. 4
Type: Research Article
ISSN: 1229-988X

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Article
Publication date: 14 August 2017

Jaime Ortiz, Tao-Sheng Chiu, Chih Wen-Hai and Che-Wei Hsu

The research framework of this study is based on tri-component attitude model (cognition-affect-conation) which explores consumers’ positive or negative emotions, as well as…

2122

Abstract

Purpose

The research framework of this study is based on tri-component attitude model (cognition-affect-conation) which explores consumers’ positive or negative emotions, as well as various types of thoughts and actions, triggered by their perceived justice in the context of service failure. This study aims to probe the possible mediating and moderating effects caused by the process where consumers form their thoughts and actions.

Design/methodology/approach

This study conducts a survey to consumers after restaurant dining. This study collects data from 262 respondents and analyzes the data with the structural equation modeling.

Findings

The results indicate that perceived justice has significant effect on empathy, anger, positive word-of-mouth, repurchase intention and revenge. Empathy has a significant and positive effect on positive word-of-mouth. Anger has significant and positive effects on revenge and avoidance. Empathy is a mediator between perceived justice and positive word-of-mouth. Blame attribution and service failure severity are the moderators in the relationship between perceived justice and empathy/anger.

Research limitations/implications

Consumers might have experienced the scenarios described in the questionnaire and their responses might be based on recall of their previous dining experiences in other restaurants, thereby resulting in a time lapse problem and affecting the conclusions of this study.

Practical implications

It is not adequate to gain consumers’ choices just demonstrate favorable customer perceived justice and empathy in today’s industrial highly competitiveness because blame attribution and perception of service failure severity result in different positive and negative emotions and behavioral intentions. Therefore, food and beverage industry must have a various recovery approaches to recover service failure and create a more appealing relationship with consumers.

Originality/value

This study investigates the relationships among perceived justice, emotions and behavioral intentions which are seldom discussed in the past studies. In addition, this study investigates the mediating effect of empathy in the relationship between perceived justice and positive word-of-mouth. The results of this study indicate that blame attribution and service failure severity are the moderators between perceived justice and emotions (empathy/anger). The mediator of empathy and the moderators of blame attribution and service failure severity can enhance the research gap in the context of service recovery for the tri-component attitude model.

Details

International Journal of Conflict Management, vol. 28 no. 4
Type: Research Article
ISSN: 1044-4068

Keywords

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