| dc.contributor | 風管系 | en_US |
| dc.creator (作者) | 許永明 | zh_TW |
| dc.creator (作者) | Hsieh, Tzung-Yuan ; Lin, Ching-Chung ; Shiu, Yung-Ming | en_US |
| dc.date (日期) | 2010.09 | en_US |
| dc.date.accessioned | 12-十一月-2013 17:52:28 (UTC+8) | - |
| dc.date.available | 12-十一月-2013 17:52:28 (UTC+8) | - |
| dc.date.issued (上傳時間) | 12-十一月-2013 17:52:28 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/61656 | - |
| dc.description.abstract (摘要) | 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 (關聯) | International Research Journal of Finance and Economics, 54, 191-201 | en_US |
| dc.subject (關鍵詞) | Binding-constraint probability;Information asymmetry cost;Order processing cost;Tick-size reduction | en_US |
| dc.title (題名) | Tick-Size Change and Spread Components on the Taiwanese Stock Market | en_US |
| dc.type (資料類型) | article | en |
