Wen-Liang Hsieh
Name Wen-Liang Hsieh
Title Professor
Education Ph.D. in Finance, The University of Memphis
Research expertise Stock index futures, Options, Microstructure, Portfolio construction, Time series models of cointegration
Office Tel No. 03-5712121 Ext. 57077
Email wlh@nycu.edu.tw
Country School Name Department Degree Duration
U.S.A. The University of Memphis Finance Ph.D 1996.08 ~ Up to today
U.S.A. Memphis State University Finance Master of Science
Taiwan Tunghai University International Trade Bachelor
Organization Title Department Job Title Duration
National Chiao Tung University Graduate Institute of Finance Professor and Director 2011.08 ~ Up to today
National Chiao Tung University Graduate Institute of Finance Professor 2008.08 ~ Up to today
TamKang University Finance Professor 2004.01 ~ 2008.01
TamKang University Finance Associate Professor 1996.01 ~ 2004.01
The Institute for the Study of Security Markets (ISSM) Research Assistant 1994.01 ~ 1996.01
The University of Memphis Computer Services Training Center Graduate Assistant 1992.01 ~ 1994.01
Year Paper Title
2021 Hsieh, Wen-liang G. and Chin-Shen Lee, Who React to What Information in Securities Analyst Report? Direct Evidence from the Investor Trade Imbalance, Pacific-Basin Finance Journal, 65, pp101492-, (SSCI)
2020 Wen-liang G. Hsieh, Jong-Rong Chiou, Do Security Analysts Herd on Target Price Forecasts?, Review of Securities and Futures Markets
2019 Wen-liang G. Hsieh, Chin-Shen Lee, Market Impact of Analyst Reports—A Comparison of Recommendations, Target Prices, and Earnings Forecasts, Journal of Financial Studies
2017 Wenchien Liu, Wen-Liang G. Hsieh, Anthony H. Tu, Does the early bird catch the worm? The information content of Taiwan’s index option trading in the early 15-min pre-opening session, North American Journal of Economics and Finance
2017 Wen-liang G. Hsieh, Huimin Chung, Huei-Ru He, Preopen Information Content of Option Volume and Trading Strategies: Evidence from the Taiwan Index Market, International Research Journal of Applied Finance
2017 陳鴻崑, 謝文良, The Impacts of Tick Size Reduction in a Market with Multiple Tick Sizes, Review of Securities and Futures Markets
2016 Hsieh, Wen-liang G. and Ching-Fang Chi, A Study of the Information Content of Futures Open Interest and Trading Activities, NTU Management Review, 26, 3, pp1-34, (TSSCI)
2016 Tu, Anthony H., Wen-liang G. Hsieh, and Wei-Shao Wu, Market Uncertainty, Expected Volatility and the Mispricing of S&P 500 Index Futures , Journal Empirical Finance, 35, pp78-98, (SSCI)
2016 Hsieh, Wen-liang G. and Yuan-yi Lin, Liquidity Commonality in Individuals’ Order Flows: New Evidence from the Taiwanese Stock Market, Asia-Pacific Journal of Financial Studies, 45, pp606-645, (SSCI)
2014 Chen, Chin-Ho, Huimin Chung, Wen-liang G. Hsieh, and Shu-Fang Yuan, The Feedback Effect of Trading Volatility Risk Premium: Evidence from the Taiwan Index Option Market, Review of Futures Markets, 21, 4, pp379-421
2014 Hsieh, Wen-liang G. and Huei-Ru He, Informed Trading, Trading Strategies and the Information Content of Trading Volume: Evidence from the Taiwan Index Options Market, Journal of International Financial Market, Institutions & Money, 31, pp187-215, (SSCI)
2013 謝文良、李進生、王芊儒, Target Price Accuracy in Foreign Analysts' Reports for Taiwan Stocks, NTU Management Review, 24, 1, pp43-70, (TSSCI)
2012 Hsieh, Wen-liang G. and Yuan-Yi Lin, Commonality in Liquidity: Evidence from the Taiwan Stock Exchange, Review of Securities and Futures Markets, 24, 4, pp135-186, (TSSCI)
2009 Hsieh, Wen-Liang G., Expiration-day effects on individual stocks and the overall market: Evidence from Taiwan, Journal of Futures Markets, 29, 10, pp920-945, (SSCI)
2009 Yun-Yung Lin, Wen-Liang Hsieh, Tracking Error and Pricing Efficiency of the Taiwan 50 ETFs , Journal of Financial Studies, 17, 2, pp1-34, (TSSCI)
2009 謝文良、曲靜芳 , Expiration Day Effects of MSCI Taiwan Index Futures, Management Review, 28, 1, pp1-28, (TSSCI)
2008 Wen-Liang Hsieh, Chin-Shen Lee, Shu-Fang Yuan , Price Discovery in the Option Markets: An Application of Put-Call Parity , Journal of Futures Markets, 28, 4, pp354-375, (SSCI)
2007 謝文良、李進生、袁淑芳、林惠雪 , 台灣股價指數現貨、期貨與選擇權市場之價格發現研究– Put-Cal-Parity 之應用, Web Journal of Chinese Management Review, 10, 2, pp1-22, (Others)
2007 Jong-Rong Chiou, Wen-Liang Gideon Hsieh, Yuan-Yi Lin, The Impact of Execution Delay on the Profitability of Put-Call-Futures Trading Strategies – Evidence from Taiwan , Journal of Futures Markets, 27, 4, pp361-385, (SSCI)
2007 Yun-Yung Lin, Wen-Liang Hsieh , Mini Index Futures: Information Impacts, Relative Pricing, and Arbitrage Opportunities in Least Frictional Markets , Journal of Financial Studies, 15, 1, pp103-134, (TSSCI)
2006 Hsieh, Wen-liang G., Chin-Shen Lee and Shu-fang Yuan, The Construction of the Volatility Index for the Taiwan Stock Market: An Analysis of the Information Contents and Trading Strategies, Journal of Management & Systems, 13, 4, pp471-497, (TSSCI)
2004 林筠、謝文良、鍾惠民, The Development Direction of Centralized Clearing & Taiwan's Clearing System (II), 台灣期貨市場, 6, 5, pp3-12
2004 林筠、謝文良、鍾惠民, The Development Direction of Centralized Clearing & Taiwan's Clearing System (I), 台灣期貨市場, 6, 4, pp3-11
2004 Wen-Liang Hsieh , Regulatory Changes and Information Competition: The Case of Taiwan Index Futures , Journal of Futures Markets, 24, 4, pp399-412, (SSCI)
2004 林蒼祥、謝文良、段昌文、李宗培 , The Design of an Index Futures Contract: A Case Study on the Taiwan 50 Futures, Asia Pacific Review of Social Science and Technology, 3, 2, pp1-17
Year Paper Title
2014 Wen-liang G. Hsieh, Yuan-yi Lin, The Sources of Commonality in Liquidity: New Evidence from the Taiwan Stock Markets
2010 謝文良 , Trade and Quote Clustering on the Taiwan Stock Exchange: An Analysis using Order Flow Data , 2010開南大學「金融市場與風險管理」研討會, 會議論文, 2010-12-13-2010-12-13
2009 2009 海峽兩岸財金趨勢研討會, The Effects of Tick Size Reduction on the Market Quality of Taiwan Stock Market, 2009 海峽兩岸財金趨勢研討會, 會議論文, 2009-01-09-2009-01-09
2008 謝文良、曲靜芳, 摩根台指期貨之到期日效應, 2008管理評論年會暨第一屆前瞻管理學術研討會, 會議論文, 2008-07-16-2008-07-16
2007 Wen-Liang Hsieh , The Price Discovery of Index Options during Periods when Futures are Limit-locked, 2007台灣財務工程學會年會, 會議論文, 2007-07-16-2007-07-16
2007 Wen-Liang Hsieh , The Price Discovery of Index Options during Periods when Futures are Limit-locked , 財務金融國際學術研討會, 會議論文, 2007-06-12-2007-06-12
2007 Wen-Liang Hsieh, Chin-Shen Lee, Shu-Fang Yuan , Price Discovery in the Options Markets: An Application of Put-Call Parity , The 1st International Financial Planning Conference, 會議論文, 2007-04-13-2007-04-14
2005 Yun-Yung Lin, Wen-Liang Hsieh , Mini Index Futures: the Relative Pricing and Arbitrage Opportunities in Least Frictional Markets , 2005 International Conference on Business and Finance, 會議論文, 2005-12-16-2005-12-17
2004 謝文良 , ETFs商品市場之研究回顧 , 2004第一屆財務金融及財金未來學術暨實務研討會, 會議論文, 2004-01-09-2004-01-09
Year Participator Project Category Project Title Job Title Unit
2020 Research Projects
2017 Research Projects
2015 Research Projects
2013 Research Projects
2010 Research Projects
2007 Research Projects
2006 Research Projects
2005 Research Projects
2004 Research Projects
2003 Research Projects
2002 Research Projects
2000 Research Projects
1998 Research Projects
1994 Research Projects
Year Honor Category
2019 School Honor