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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Industry Insights
An Introduction to IFRS S1！Align quantitative method with ESG
Greenwashing refers to companies trying to gain public trust by claiming to have environmental, social, and corporate governance (ESG) contributions or making carbon reduction declarations, but taking little action. To prevent such behavior and to strengthen corporate focus on sustainable ESG disclosure, the International Financial Reporting Standards Foundation (IFRS Foundation) has developed a globally applicable set of sustainability disclosure standards with an accounting foundation—the IFRS Sustainability Disclosure Standards. In this article, we will start by introducing the IFRS Foundation, and then delve into the main content of the IFRS S1 as well as how Taiwan aligns with international sustainability disclosure standards.
Market Knowledge & Data Guides
Insights into Investment Information Sources: Guiding Financial Decisions
In the realm of financial analysis, understanding the sources of investment information is paramount. Discover where creditors and investors obtain crucial data to make informed decisions about a company. Explore the significant role of investment information sources in quantitative investment analysis, shaping the landscape of informed financial decisions.
Market Knowledge & Data Guides
Mastering the Dynamics of Financial Data Sourcing: A Strategic Guide
Unlock business success with accurate and comprehensive financial data – the lifeblood of strategic decisions and market understanding. Master the art of financial data sourcing for successful analysis. Navigate the dynamic market with astute judgment to ensure relevant insights for effective financial modeling.
Market Knowledge & Data Guides
ESG Bond Introduction II
The previous article mentioned the basic types of ESG bonds, and we believe you have a basic understanding of these types of bonds. Next, we will introduce specific types of ESG bonds, and briefly introduce you to a few representative countries that are currently promoting sustainable finance policies and ESG bond market development.
Market Knowledge & Data Guides
What are ESG Bonds? Understanding This Key Player in Sustainable Finance
ESG bonds are issued in the same way as regular bonds, but the difference lies in the use of the funds, which is the most important reason to differentiate ESG bonds from regular bonds.
Market Knowledge & Data Guides
Chung Fu’s Delisting Crisis II: Skyrocketing Asset Values and Escalating Ownership Dispute!
Chung Fu has recently been embroiled in multiple governance issues. What secrets lie behind these incidents?
Market Knowledge & Data Guides
A Brief Overview of Affiliated Companies Disclosures in Annual Shareholder Meetings
Have you noticed “Special Disclosures - Affiliated Companies” in company annual reports? Why do companies include this information, and what’s its significance for them?
Market Knowledge & Data Guides
Stewardship Code Resolutions — Taiwan Corporate Shareholder Meetings
As investors, how can we proactively detect potential corporate governance risks earlier through Stewardship Code, beyond relying solely on information from news reports?
Market Knowledge & Data Guides
What is the Look-ahead Bias ?
Look-ahead bias is the phenomenon that unconsciously uses unavailable or unrevealed data in analyzing or simulating historical events. It exists in the processes of making decisions or evaluations which use information or data that was unknown at that time. Look-ahead bias may cause distortion and misleadingness of the result because it violates the principle of using only information available during analysis. It could emerge in any field, such as finance, economy, and data analysis, and influence investment strategy, backtesting of the trading system, and performance grading.
Market Knowledge & Data Guides
Survivorship Bias
Highlights Preface Survivorship bias refers to a type of error in research or observation where only the successful or surviving entities or events are considered, while the failures or disappearances are ignored or excluded. This bias can lead to a misunderstanding of the overall situation because observing only the successful or surviving entities may not […]
Market Knowledge & Data Guides
Directors & Supervisor’s Remunerations
TEJ [Directors & Supervisor’s Remunerations database] provides various information related to the remuneration of directors and supervisors, ranging from total remuneration and salary, numbers, remuneration to income ratio to the information of directors, supervisors, and managers’ remuneration and salaries. Up to 55 sub-blocks, users can experience the most complete and accurate Taiwan’s remuneration of directors, supervisors, and managers. This article will introduce the importance of directors’ and supervisors’ remunerations information, applications, and how to find these data.
Market Knowledge & Data Guides
Margin Trading (3)
In the previous article, we introduced how to build indicators with the margin trading database. This article will be the last one of this series, and we will help the readers become familiar with the Day Trading Statistics database and the Balance of Securities Provided as Financing Collateral database.