Event-Driven Alpha in Taiwan：
Insights from TCRI Watchdog
Alternative Data Research Report-2026
Authored by Taiwan Economic Journal (TEJ), this research report provides a deep dive into how the TCRI Watchdog (WD) database systematically transforms a vast volume of daily unstructured news and announcements into backtestable “Event Scores“.
Through an empirical study of approximately 30,000 news events, we reveal the profound correlation between event signals and stock price Alpha (Abnormal Returns).
Key Report Highlights:
☑️Systematic Event Quantization:
Transforms qualitative news and filings into a structured dataset using a -3 to +3 Intensity Scale and 115 subcategories, enabling the integration of unstructured data into quantitative models.
☑️Empirical Market Reaction Patterns:
Reveals asymmetrical price reactions across different signal types, specifically identifying Management (M) events as leading indicators for significant and persistent price corrections.
☑️Alpha Strategies with Tradability:
Analyzes Announcement-based (P) vs. News-based (N) channels to pinpoint signals with high post-disclosure execution potential, helping you optimize precise entry and exit points.
Fill the form to download the research report, pioneer your new frontier in event-driven quantitative investment!
