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TAIPEI, TAIWAN, June 17, 2015 - (ACN Newswire) - Taiwan's Financial Supervisory Commission (FSC) launched the 'Market Uplift Plan' this past February to further a transparent, fair and efficient capital market and to enhance Taiwan's competitiveness in the global market.
The Commission reiterated its commitment for development of efficient capital market and sound regulatory principles through responsive policy measures and effective enforcement practices.
The efficient capital market hypothesis (1)--a financial theory that posits that security prices reflect all relevant information available to the market--first found its way into Supreme Court jurisprudence in Basic Inc.
As a relatively young market, the financial community continues its focus to establish an efficient capital market, helping sustain the growth and liquidity glimpsed in the first quarter of this year.
Forcing both exchanges to sit down and agree on a merger, with the central bank selling its stake, was a political change of mindset, he notes, but the government is hoping to raise finance through the listing of non-strategic assets it had acquired during the crisis, and that needs an efficient capital market infrastructure to support it.
The authors also rehabilitate the efficient capital market hypothesis by modifying it to include Austrian notions of dynamic efficiency, rather than the static efficiency behind much of modern finance theory.
William indicated that: "The investment banking industry is vital to sustain an efficient capital market by developing information and liquidity networks in the market.
In this paper, we propose a novel method to identify and measure synergy using the efficient capital market theory.
Consequently, an efficient capital market is one where economic profits do not exist.
Domestic circulation of public bonds, honored by the state, creates confidence in paper securities and favors the consolidation of impersonal forms of finance, a basic, but not always sufficient, pre-requisite for the consolidation of an efficient capital market.
Says Thomas Reagan, managing director of JP Morgan Securities Ltd, the downside from opening up fast is bigger than the upside potential from getting a more efficient capital market system and more investment flows.
Some Implications of the Efficient Capital Market Hypothesis," Journal of Post Keynesian Economics, 6, Winter 1983-84, pp.
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