Please use this identifier to cite or link to this item:
https://ah.lib.nccu.edu.tw/handle/140.119/61656
DC Field | Value | Language |
---|---|---|
dc.contributor | 風管系 | en_US |
dc.creator | 許永明 | zh_TW |
dc.creator | Hsieh, Tzung-Yuan ; Lin, Ching-Chung ; Shiu, Yung-Ming | en_US |
dc.date | 2010.09 | en_US |
dc.date.accessioned | 2013-11-12T09:52:28Z | - |
dc.date.available | 2013-11-12T09:52:28Z | - |
dc.date.issued | 2013-11-12T09:52:28Z | - |
dc.identifier.uri | http://nccur.lib.nccu.edu.tw/handle/140.119/61656 | - |
dc.description.abstract | This paper investigates the effect of the decrease in tick size that occurred in the Taiwanese stock market in 2005 on spread components. Employing a methodology proposed by Lin, Sanger and Booth (1995) and using rigorous investigation techniques, this study provides a better understanding of emerging order-driven markets. The empirical results show that information asymmetry costs and order processing costs have indeed decreased after the tick-size reduction. We further find that stocks with greater binding-constraint probability experience larger declines in information asymmetry. Besides, stocks traded frequently experience large declines in information asymmetry and order processing | en_US |
dc.format.extent | 132999 bytes | - |
dc.format.mimetype | application/pdf | - |
dc.language.iso | en_US | - |
dc.relation | International Research Journal of Finance and Economics, 54, 191-201 | en_US |
dc.subject | Binding-constraint probability;Information asymmetry cost;Order processing cost;Tick-size reduction | en_US |
dc.title | Tick-Size Change and Spread Components on the Taiwanese Stock Market | en_US |
dc.type | article | en |
item.languageiso639-1 | en_US | - |
item.fulltext | With Fulltext | - |
item.cerifentitytype | Publications | - |
item.grantfulltext | restricted | - |
item.openairetype | article | - |
item.openairecristype | http://purl.org/coar/resource_type/c_18cf | - |
Appears in Collections: | 期刊論文 |
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File | Description | Size | Format | |
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191201.pdf | 129.88 kB | Adobe PDF2 | View/Open |
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