שם הכותב: תאריך: 10 מרץ 2013
ronny_manos1_web
מאמר בנושא 'נזילות מניה ושינויים בשוק'

 

שם חבר הסגל: Manos, Ronny.

מחברים נוספים: Christopher J. Green, Victor Murinde ,Nathridee Suppakitjarak.

שנת פרסום: 2010.

פריט ביבליוגרפי:

 Green, C.J., Manos, R., Murinde, V. and Suppakitjarak, J. (2010). Share Liquidity and Market Microstructure Reform: The Case of Screen-Based Trading in Mumbai. Asia Pacific Journal of Financial Studies, 39, pp. 361-395.

לצפייה במאמר לחץ כאן

תקציר:

 We investigate the impact of the March 1995 move to screen-based trading on the Mumbai Stock Exchange, using separate samples of more liquid (A) and less liquid (B) shares. Following the move, the average cumulative abnormal return for A shares was 4.5%, whereas that for B shares was over 12%; market liquidity and efficiency increased but the effect on volatility was more ambiguous. We identify a significant cross-sectional relationship between the size of cumulative abnormal returns and firm-specific improvements in liquidity, efficiency, and volatility, with differences in the effects of reform on A and B shares.

שייך לנושאים: מחקרים