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AbstractThis paper examines stock price behavior for all stocks listed on the Taiwan Stock Exchange during exchange holidays over 1971–2000. The results indicate significantly higher return volatility for trading time than for non-trading time. Moreover, return volatility in the trading period following bank settlement days is significantly higher than that for the benchmark portfolio. However, return volatility in the trading period following national holidays is about the same as that for the benchmark portfolio. The results are consistent with the prediction of the trading time hypothesis in that private information is generated in business hours but incorporated into stock prices in the subsequent trading period.

AbstractTo increase banking efficiency, this study presents a convenient and efficient index to evaluate a bank teller’s the performance. This work presents a teller performance analysis chart by adopting the similar methodology of Vännman (1999) and Chen et al. (2001) to compare the operation performance of bank tellers. The proposed approach enables bankers to assess individual teller performance objectively from the chart to improve both teller performance and overall quality of service.