• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Asian Economic and Financial Review >Impact of Intraday Trading of Securities on Market Liquidity: Revisiting the Price Impact Function
【24h】

Impact of Intraday Trading of Securities on Market Liquidity: Revisiting the Price Impact Function

机译：证券当日交易对市场流动性的影响：重新讨论价格影响函数

获取原文
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

The chronic lack of trading momentum and volume in the Taiwan stock market has been a problem for the government. Various policies and measures have been put in place to energize the domestic stock market. In 2014, the government lifted the bank on intraday trading (first on buying followed by selling on January 6, 2014, and then on selling followed by buying on June 30, 2014), in an attempt to stimulate the market. This paper seeks to examine whether intraday trading of securities is beneficial to the liquidity of the constituents of the FTSE TWSE Taiwan 50 Index and the FTSE TWSE Taiwan 100 Index by sampling data from 2013 to 2014. The research purpose is to explore the effects of (1) buying followed by selling; (2) selling followed by buying; and (3) intraday trading of securities in general on market liquidity. As the market depth indicators such as spreads used in literature are not suitable for a market geared toward trading orders (Hu and Chan, 2001) this paper contributes that the price impact function can yield some insight for research institutes into the formation of policies on intraday trading of the same securities.
机译：台湾股市长期缺乏交易动力和交易量一直是政府面临的问题。已经采取了各种政策和措施来激励国内股票市场。 2014年，政府解除了银行的日内交易（首先在2014年1月6日先买入后卖出，然后在2014年6月30日先卖出再买入），以刺激市场。本文旨在通过2013年至2014年的抽样数据来研究证券的日内交易是否对FTSE TWSE台湾50指数和FTSE TWSE台湾100指数的成分股的流动性有利。研究目的是探讨（ 1）买入卖出; （2）先卖后买; （3）一般根据市场流动性进行日内证券交易。由于文献中使用的市场深度指标（例如点差）不适用于面向交易订单的市场（Hu and Chan，2001），因此本文认为价格影响函数可以为研究机构提供一些见识，以了解当日的政策形成情况。相同证券的交易。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号