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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Editor's picks from our research desk.
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 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.
Empirical Research on Behavioral Factors in the Taiwan Stock Market: A Case Study of the Share Distribution
In an AI-driven Taiwan stock market, mastering chip distribution (ownership structure) is the key to profitability. This study delves into the Share Distribution data from the TDCC, transforming 15 tiers of shareholding data into behavioral finance factors such as investor attention, opinion dispersion, and retail speculation. By utilizing Fama–MacBeth two-stage regression and the alphalens-tej quantitative tool, we precisely validate the predictive power of psychological biases on stock returns, providing investors with actionable Alpha strategies and robust risk management solutions.
Insights
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Quant Data Science
【TQuant : From 0 to 1 – Day 2】 Avoid the Invisible Killers of Quantitative Trading: Use TQuant Lab to Precisely Manage Commission and Slippage, Giving Your Strategies the Edge!
In the world of investment markets, a critical issue is often overlooked: trading comes with costs! Transaction fees and slippage might seem trivial, but they can silently erode your profits. Today, we’ll explain in the simplest terms what transaction fees and slippage are, and show you how to use TQuant Lab to precisely control these trading costs, making your investment strategies twice as effective with half the effort! No matter how new you are to quantitative trading, don’t worry—just follow our steps, and you’ll be able to get started with ease!
Industry Insights
Revolutionizing Sustainability: Why E-Paper is the Future and Who’s Leading the Industry
The pandemic reshaped business models, boosting electronic device sales but exposing the drawbacks of LCD and OLED screens, like eye fatigue and weight. E-paper’s lightweight, eye-friendly, and sustainable features have fueled its growth, extending from e-readers to the booming demand for electronic labels. This article explores global e-paper trends and opportunities for Taiwanese manufacturers.
Event & Alternative Signals
What Is Event-Driven Investing? Strategies, Examples & Insights
Learn what event-driven investing is, how it exploits pricing inefficiencies from corporate events, and explore common strategies with real-world examples.
Quant Research
Analyzing Factor Performance with Alphalens: The Value Factors Edition
This series of articles uses Alphalens to examine the application and effectiveness of various factors in the market. In previous articles, we analyzed “foreign capital factors,” exploring how foreign investments influence the market. This article will focus on “value factors,” examining valuation-related indicators that reveal intrinsic value and affect long-term returns. You can use the alphalens-tej tool within TQuant Lab. This tool not only integrates TEJ data but also eliminates tedious data processing, allowing you to easily assess factor performance and further support the development of investment strategies.
Quant Data Science
【TQuant : From 0 to 1 – Day 1】 Your Gateway to Quantitative Trading: Become a Quant Expert with TQuant Lab, No Experience Needed!
what is the right way to invest? If you’ve had the same doubts, you’re not alone. While seeking answers, I stumbled upon a term that was entirely new to me: quantitative finance. Learning this field helps resolve personal financial challenges and enhances career competitiveness. More importantly, it sharpens your logical thinking and data analysis skills—benefits that are hard to overlook. TQuant Lab provides everything you need to get started efficiently and effectively. Let’s embark on this journey together and explore the endless possibilities of quantitative trading!
Quant Research
“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.
Industry Insights
2024 Taiwan’s Top 100 Group Corporations Performance
According to the latest data compiled from 2023 annual reports of Taiwan’s listed companies by TEJ Group Observer, the total asset size of Taiwan’s top 100 business groups continues to grow, albeit at a significantly slower pace compared to previous years, with an annual increase of only 3%. Under the influence of the global economic downturn, the revenue and profit figures of these top 100 groups have shown a significant decline compared to 2022, with revenue falling by 7.9% and operating profit plunging by 25%.
Quant Data Science
Algorithmic Trading Guide：Leveraging TQuant Lab Strategies with the SinoPac API for Automated Trading
This article will guide you through leveraging the TQuant Lab SuperTrend strategy in combination with the SinoPac API to quickly master the essentials of algorithmic trading. Let’s become pioneers of algorithmic trading in the Taiwan stock market together!
Factor Investing
Analyzing Factor Performance with Alphalens: Foreign Capital Factor Edition
This series of articles will use Alphalens to explore several key factors, gradually analyzing their impact on market performance. The first article focuses on “foreign capital,” examining the effects of foreign capital flows into the market. Next, we’ll delve into “value factors,” studying how they reflect a company’s intrinsic value. Finally, the last article will analyze “price-volume factors,” uncovering the interplay between price and trading volume.
Quant Data Science
MasterLink Securities API Beginner’s Guide： How to Use TQuant Lab Strategies for Automated Trading
In modern financial markets, algorithmic trading is increasingly becoming essential for investors to enhance efficiency and reduce risk. More and more brokerage firms offer API services, enabling investors to automate order placement and quickly respond to market changes. This article will demonstrate using MasterLink Securities API for automated trading while integrating strategies from TQuant Lab. Through a practical example, we’ll show how a systematic approach can optimize investment decisions, helping investors seize market opportunities and improve performance.
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.