Technology upgrades in emerging equity markets: Effects on liquidity and trading activity
Küçük Resim Yok
Tarih
2015
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Academic Press Inc Elsevier Science
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study examines the effects of technological changes on liquidity of stock markets. Utilizing daily data of 361 stocks from 10 emerging market exchanges, namely Colombia, Indonesia, Johannesburg, Korea, Malaysia, Mexico, Russia, Shanghai, Shenzhen and Thailand, a panel data regression analysis shows that technological upgrade decreases the bid-ask spread and increases trading activity. In other words, launching a more sophisticated trading platform contributes to the overall liquidity of the market. (C) 2015 Elsevier Inc. All rights reserved.
Açıklama
Anahtar Kelimeler
Market Microstructure, Technological Upgrade, High Frequency Trading, Emerging Markets, Liquidity, Reforms, Quality
Kaynak
Finance Research Letters
WoS Q Değeri
Q4
Scopus Q Değeri
Q1
Cilt
14
