Summary: | 碩士 === 元智大學 === 經營管理碩士班(國際企業學程) === 107 === This thesis focus on the influence of the change of clearing time reforms on the decision of foreign order time. The Taiwan Stock Exchange adjusted the intraday trading system to gradually increase the frequency of matching. From the initial 20-second combination, to December 29, 103, shorten the combination time to 5 seconds. According to the empirical results, it is found that the change the clearing time reforms does not affect the foreign-funded decision-making, and investors are allowed to refrain from placing an order one hour after the opening. However, this thesis also found that the number of foreign-invested orders is for the Taiwan stock market order frequency. It has considerable influence.
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