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Taiwan OTC market is an electronic, order driven, call market. The purpose of this paper is to gain understanding of whether trade size or number of transaction provides more information on explaining price volatility and market liquidity in this market. The paper also aims to investigate how market condition can affect the relationship between information type and trading activities.

The paper uses data from the Taiwan OTC market to run the empirical tests. It divides firms into five size groups based on their market capitalization. Regression equations are run to test: whether number of transactions has a more significant impact on price volatility on the Taiwan OTC market; the impact of market information on number of transactions; the relative impact of firm specific and market information on number of transactions; and the impact of number of transaction of bid‐ask spread.

Findings show that the larger the number of transactions, the higher the price volatility. Smaller firms on the Taiwan OTC market are traded based on firm‐specific information. This relation is further affected by market trends. Especially for the larger firms, when the market is up and the amount of market information increases, number of transactions increases. When the market is down and the amount of market information increases, number of transactions decreases. Finally, it is found spread size is more likely to be influenced by number of transactions, instead of trade size. Overall, based on these empirical results, the information content of number of transactions seems to be higher than that of trade size in the Taiwan OTC market.

Investors now understand that number of transaction actually carry more information than trade size does.

The relation between market information and number of transaction, also that between market information and trade size is influenced by market condition. The paper fills a gap in the literature to show that market condition has an impact on the relation between information type and trader's behavior. A number of transactions are identified that provide more information than trade size does. It is also shown that market conditions can further affect the impact of information on trading activities.

On February 18, 2021, the NASA Perseverance rover traveled 292.5 million miles, safely landing on Mars, proving the power of science, technology, engineering, and mathematics (STEM) in accomplishing such a historical feat. Glaringly absent from the photos, tweets, and commentaries showing NASA's team celebrations, however, are African American males. Their absence gives rise to the question “Where are the Black males?” – not just in NASA's celebratory photos, but in STEM-related careers altogether. Perhaps even more important questions are “What K-12 systems are in place that exclude Black males from being prepared – academically and socially – for careers with NASA and the like? And what strategies are necessary to engage them in STEM education?”

In this chapter, the author offers a historical overview of the STEM contributions offered by Black males, while explaining the competition of academic identity and Black male identity in successful school experiences. Four K-12 education barriers that derail African American males from their STEM trajectory are highlighted. As a conclusion, strategies to engage Black males in developing and nurturing an early interest in STEM are offered.