| dc.contributor | 風管系 | |
| dc.creator (作者) | Hsieh, Tzung-Yuan;Lin, Ching-Chung;許永明 | |
| dc.date (日期) | 2010-09 | |
| dc.date.accessioned | 7-Jan-2015 16:54:52 (UTC+8) | - |
| dc.date.available | 7-Jan-2015 16:54:52 (UTC+8) | - |
| dc.date.issued (上傳時間) | 7-Jan-2015 16:54:52 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/72649 | - |
| 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 costs. | |
| dc.format.extent | 132999 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | International Research Journal of Finance and Economics,54,191-201 | |
| dc.title (題名) | Tick-Size Reduction and Spread Components on the Taiwanese Stock Market | |
| dc.type (資料類型) | article | en |
