Insights
In-depth research and data-driven insights on quantitative finance, factor investing, risk, and ESG from the TEJ research team.
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Fundamental Factor Research: Monthly Revenue Information – part1
The Taiwan equity market possesses a rare institutional advantage globally: under the Securities and Exchange Act, listed companies are required to announce and report their operational results for the preceding month by the 10th of each month (Exception: starting from FY2026, insurance companies and entities with insurance subsidiaries may extend their disclosure deadline to the 15th of each month). This is commonly referred to in the market as "Monthly Revenue".
Factor Strategy – Integrating Broker Consensus to Enhance Foreign Concentration Strategies – QFII Part 2
Boost your quantitative strategy with QFII concentration & broker consensus! Discover how the conc_qfii fusion strategy delivers a 30.12% annualized return in the Taiwan large-cap market.
Factor Research – Tracking Smart Money Footprints via Foreign Institutional Concentration – QFII Part 1
Track QFII ‘smart money’ footprints in Taiwan large-cap stocks! Learn how the Foreign-Institutional Trading Concentration (conc_qfii) factor predicts returns.
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Market Knowledge & Data Guides
Panic or Opportunity? Spotting Market Turning Points Through Margin Maintenance Ratios
In the Taiwan stock market, credit trading (margin buying and short selling) serves as a critical mechanism for observing market leverage and investor sentiment. Unlike institutional investors with ample capital, retail investors often face capital constraints and therefore resort to margin buying to increase their purchasing power. Consequently, margin data serves as a key barometer for retail trading heat. Key indicators for monitoring credit trading include daily margin/short volume, balance, margin utilization rates, and—most crucially—the Margin Maintenance Ratio (MMR). The MMR is a core metric used to assess the risk status of margin accounts and determine how close investors are to a margin call. Brokers set specific MMR thresholds to mitigate default risks during periods of high market volatility.
Market Knowledge & Data Guides
TEJ Point-in-Time Audited Financial Database – Rejecting “Peek-ahead” Backtesting
TEJ PIT Audited Financial Database eliminates look-ahead and survivorship bias with Point-in-Time data, full version retention, IFRS alignment, and 300+ ready-to-use ratios—delivering reliable backtesting and faster strategy development.
Industry Insights
Investing in Emerging Markets: Opportunities, Risks & Strategy
Should you invest in emerging markets? Our emerging market investment guide covers the benefits, risks, and strategies to empower you with data-based decisions.
Market Knowledge & Data Guides
What are Alpha Signals & How are They Used in Trading?
Alpha signals are metrics that show portfolio outperformance potential. Learn how they’re generated and applied in trading, and the challenges of using them.
Factor Investing
Factor Investing Explained: Types of Factors & Strategy Guide
Factor investing targets quantifiable characteristics to improve returns. Explores common factors (macroeconomic and style types) and strategies in our guide.
Market Knowledge & Data Guides
What is Dividend Arbitrage: Strategy, Process, & Examples
Dividend arbitrage focuses on the price inefficiencies between dividend payouts and option pricing. This article will explore its execution process, examples, and challenges.
Market Knowledge & Data Guides
What is Quantitative Data: Definition, Types, & Analysis
This article will explore what quantitative data is, outlining its meaning, types, and examples, while briefly viewing its collection and analysis methods.
Market Knowledge & Data Guides
“Unlocking Market Insights: Comparing Three Strategies Based on Directors’ Shareholding Data”
In the stock market, the shareholding ratio of directors has always been a key indicator for investors. Changes in insider holdings often signal their confidence in the company’s future development and have potential impacts on stock prices. However, identifying meaningful changes in shareholding ratios from vast data can be challenging for investors.
Market Knowledge & Data Guides
How to Choose an Alternative Data Provider for Smarter Financial Decisions
How should you choose the best alternative data provider for your financial needs? Learn about key factors, such as data quality, integration, and more.
Market Knowledge & Data Guides
Understanding the Common Types of Alternative Data to offer predictive insights for financial strategies
Alternative data are powerful tools for financial decisions. Learn about the different types of alternative data and how they offer valuable insight.
Market Knowledge & Data Guides
What is Market Sentiment & How is it Used in Trade Strategy
What is market sentiment? How can it enhance trade strategies? Learn more about the importance of market sentiment and its key indicators in this article.
Market Knowledge & Data Guides
Understanding Long-Short Equity Hedge Funds Strategies
Learn about the basics of long-short equity investing, from its core concepts and the common strategies, as well as the benefits and risks involved.