| dc.contributor.advisor | 郭維裕 | zh_TW |
| dc.contributor.advisor | Kuo, Weiyu | en_US |
| dc.contributor.author (Authors) | 張嘉華 | zh_TW |
| dc.contributor.author (Authors) | Chang, Chia-Hua | en_US |
| dc.creator (作者) | 張嘉華 | zh_TW |
| dc.creator (作者) | Chang, Chia-Hua | en_US |
| dc.date (日期) | 2005 | en_US |
| dc.date.accessioned | 18-Sep-2009 14:10:52 (UTC+8) | - |
| dc.date.available | 18-Sep-2009 14:10:52 (UTC+8) | - |
| dc.date.issued (上傳時間) | 18-Sep-2009 14:10:52 (UTC+8) | - |
| dc.identifier (Other Identifiers) | G0093351023 | en_US |
| dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/35107 | - |
| dc.description (描述) | 碩士 | zh_TW |
| dc.description (描述) | 國立政治大學 | zh_TW |
| dc.description (描述) | 國際經營與貿易研究所 | zh_TW |
| dc.description (描述) | 93351023 | zh_TW |
| dc.description (描述) | 94 | zh_TW |
| dc.description.abstract (摘要) | We study the intraday behavior of bid-ask spreads for actively traded TAIEX option in Taiwan. A study of quality of price quotation offered by market makers is important because the market makers have the responsibilities to keep trading costs low and promote price discovery. Due to the observed wider price quotation from market makers, we find that market makers offer inefficient price quotations to fulfill their obligations under requirement of market making. Moreover, ways of quotation market makers choose, indeed, affect the price quotation of market makers. We also find foreign institutional investors (QFIIs) and market makers bear lower execution cost when they deal on TAIEX option market. Overall, despite the large trading volume and increasing liquidity in TAIEX option, our results suggest that market makers do not play an important role to the market liquidity of TAIEX option market as we thought previously. | zh_TW |
| dc.description.abstract (摘要) | We study the intraday behavior of bid-ask spreads for actively traded TAIEX option in Taiwan. A study of quality of price quotation offered by market makers is important because the market makers have the responsibilities to keep trading costs low and promote price discovery. Due to the observed wider price quotation from market makers, we find that market makers offer inefficient price quotations to fulfill their obligations under requirement of market making. Moreover, ways of quotation market makers choose, indeed, affect the price quotation of market makers. We also find foreign institutional investors (QFIIs) and market makers bear lower execution cost when they deal on TAIEX option market. Overall, despite the large trading volume and increasing liquidity in TAIEX option, our results suggest that market makers do not play an important role to the market liquidity of TAIEX option market as we thought previously. | en_US |
| dc.description.tableofcontents | Ch 1. IntroductionCh 2. Market structure and market making ruleCh 3. The empirical estimatesCh 4. Summary and conclusion | zh_TW |
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| dc.format.mimetype | application/pdf | - |
| dc.language.iso | en_US | - |
| dc.source.uri (資料來源) | http://thesis.lib.nccu.edu.tw/record/#G0093351023 | en_US |
| dc.subject (關鍵詞) | TAIEX option | en_US |
| dc.subject (關鍵詞) | bid-ask spread | en_US |
| dc.subject (關鍵詞) | market maker | en_US |
| dc.subject (關鍵詞) | quotation quality | en_US |
| dc.subject (關鍵詞) | market making | en_US |
| dc.title (題名) | The Intraday Trading Behavior of TAIEX Option in Taiwan Futures Exchange | zh_TW |
| dc.title (題名) | 台指選擇權日內交易型態分析 | zh_TW |
| dc.type (資料類型) | thesis | en |
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