Through an event-study analysis, this paper investigates the market reactions to CEOs and presidents of listed and over-the-counter firms issuing initial securities trust in Taiwan for the first time. The objective is to determine whether this strategy is adopted to transmit positive firm information, reduce taxes, or enable the transfer of assets. Empirical results reveal that issuing a securities trust reduces taxes and enables CEOs and presidents to convey positive information about the long-term performance of their firm. However, the short-term performance of stock prices does not indicate remarkable cumulative abnormal returns. Firms issuing securities trust exhibit substantially higher long-term performance compared with nonissuing firms. In addition, the more frequent an announcement is issued, the stronger is the effect of the announcement.