| dc.creator (作者) | 郭維裕;胡桂華 | zh_TW |
| dc.creator (作者) | Kuo, Weiyu ; Hu, Kuihwa | - |
| dc.date (日期) | 2003-01 | en_US |
| dc.date.accessioned | 3-Dec-2008 13:52:53 (UTC+8) | - |
| dc.date.available | 3-Dec-2008 13:52:53 (UTC+8) | - |
| dc.date.issued (上傳時間) | 3-Dec-2008 13:52:53 (UTC+8) | - |
| dc.identifier.uri (URI) | https://nccur.lib.nccu.edu.tw/handle/140.119/12476 | - |
| dc.description.abstract (摘要) | Following the sequential trading model developed by Easley, Kiefer, OâHara and Paperman (1996), we examine the information content of stock trading on the TSEC. Our result reveals that more liquid stocks have lower risk of informed trading than less liquid stocks, which is basically consistent with the finding of Easley, Kiefer, OâHara and Paperman. This result implies that stocks on the NYSE and the TSEC have similar characteristics of information-based trading even though the trading mechanisms in these two stock markets are different. According to what we have found, we suggest uninformed traders on the TSEC trade more liquid or higher trading volume stocks in order to avoid the cost of adverse selection induced by the informed trading. | - |
| dc.format | application/ | en_US |
| dc.language | en | en_US |
| dc.language | en-US | en_US |
| dc.language.iso | en_US | - |
| dc.relation (關聯) | 證券市場發展季刊, 14(4), 39-73 | en_US |
| dc.subject (關鍵詞) | Market Microstructure; Sequential Trading Model; Information Trading | - |
| dc.title (題名) | An Empirical Study on Informed Trading on the Taiwan Stock Exchange | en_US |
| dc.type (資料類型) | article | en |
