File Download
Links for fulltext
(May Require Subscription)
- Publisher Website: 10.1016/j.jfineco.2010.10.001
- Scopus: eid_2-s2.0-78951489037
- WOS: WOS:000287073700009
- Find via
Supplementary
- Citations:
- Appears in Collections:
Article: Exchange trading rules and stock market liquidity
Title | Exchange trading rules and stock market liquidity |
---|---|
Authors | |
Keywords | Broker-agency conflict Insider trading Law and finance Liquidity Market manipulation |
Issue Date | 2011 |
Publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jfec |
Citation | Journal of Financial Economics, 2011, v. 99 n. 3, p. 651-671 How to Cite? |
Abstract | We examine stock exchange trading rules for market manipulation, insider trading, and broker-agency conflict, across countries and over time, in 42 stock exchanges around the world. Some stock exchanges have extremely detailed rules that explicitly prohibit specific manipulative practices, but others use less precise and broadly framed rules. We create new indices for market manipulation, insider trading, and broker-agency conflict based on the specific provisions in the trading rules of each stock exchange. We show that differences in exchange trading rules, over time and across markets, significantly affect liquidity. © 2010 Elsevier B.V. |
Persistent Identifier | http://hdl.handle.net/10722/164726 |
ISSN | 2021 Impact Factor: 8.238 2020 SCImago Journal Rankings: 11.673 |
SSRN | |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Cumming, D | en_HK |
dc.contributor.author | Johan, S | en_HK |
dc.contributor.author | Li, D | en_HK |
dc.date.accessioned | 2012-09-20T08:08:43Z | - |
dc.date.available | 2012-09-20T08:08:43Z | - |
dc.date.issued | 2011 | en_HK |
dc.identifier.citation | Journal of Financial Economics, 2011, v. 99 n. 3, p. 651-671 | en_HK |
dc.identifier.issn | 0304-405X | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/164726 | - |
dc.description.abstract | We examine stock exchange trading rules for market manipulation, insider trading, and broker-agency conflict, across countries and over time, in 42 stock exchanges around the world. Some stock exchanges have extremely detailed rules that explicitly prohibit specific manipulative practices, but others use less precise and broadly framed rules. We create new indices for market manipulation, insider trading, and broker-agency conflict based on the specific provisions in the trading rules of each stock exchange. We show that differences in exchange trading rules, over time and across markets, significantly affect liquidity. © 2010 Elsevier B.V. | en_HK |
dc.language | eng | en_US |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jfec | en_HK |
dc.relation.ispartof | Journal of Financial Economics | en_HK |
dc.rights | This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. | - |
dc.rights | NOTICE: this is the author’s version of a work that was accepted for publication in <Journal of Financial Economics>. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in PUBLICATION, [VOL 99, ISSUE 3, (2011)] DOI 10.1016/j.jfineco.2010.10.001 | - |
dc.subject | Broker-agency conflict | en_HK |
dc.subject | Insider trading | en_HK |
dc.subject | Law and finance | en_HK |
dc.subject | Liquidity | en_HK |
dc.subject | Market manipulation | en_HK |
dc.title | Exchange trading rules and stock market liquidity | en_HK |
dc.type | Article | en_HK |
dc.identifier.email | Cumming, D: douglas.cumming@gmail.com | en_HK |
dc.identifier.email | Li, D: lidan@hku.hk | - |
dc.identifier.authority | Li, D=rp01550 | en_HK |
dc.description.nature | preprint | - |
dc.identifier.doi | 10.1016/j.jfineco.2010.10.001 | en_HK |
dc.identifier.scopus | eid_2-s2.0-78951489037 | en_HK |
dc.identifier.hkuros | 208651 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-78951489037&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 99 | en_HK |
dc.identifier.issue | 3 | en_HK |
dc.identifier.spage | 651 | en_HK |
dc.identifier.epage | 671 | en_HK |
dc.identifier.isi | WOS:000287073700009 | - |
dc.publisher.place | Netherlands | en_HK |
dc.identifier.ssrn | 1504017 | - |
dc.identifier.scopusauthorid | Li, D=36606414100 | en_HK |
dc.identifier.scopusauthorid | Johan, S=16301567900 | en_HK |
dc.identifier.scopusauthorid | Cumming, D=54790580000 | en_HK |
dc.identifier.citeulike | 8018376 | - |
dc.identifier.issnl | 0304-405X | - |