平盤以下不能放空對我國股市之影響

本研究主要目的在探討,平盤以下不能放空政策對於我國股市的影響。由於平盤 以下不能放空政策主要在限制,空頭時間的融券放空,雖其可能可以減少作空的 力度,可是,相對而言,由於空頭交易日不能融券作空,代表平盤以下的個股不 得進行融券當沖,因而對交易量產生相當程度的負面衝擊。其次,平盤以下不 能放空會造成空頭恆空,多頭恆多的現象,也就是資金會更集中於市場注目的產 業或類股。研究結果發現整體而言平盤限制使得成交量、週轉率、標準化的成交 量皆有顯著降低。 === The purpose of this research is to discuss the effects of short sales re...

Full description

Bibliographic Details
Main Author: 鄭姿雯
Language:中文
Published: 國立政治大學
Subjects:
Online Access:http://thesis.lib.nccu.edu.tw/cgi-bin/cdrfb3/gsweb.cgi?o=dstdcdr&i=sid=%22G0098353041%22.
id ndltd-CHENGCHI-G0098353041
record_format oai_dc
spelling ndltd-CHENGCHI-G00983530412013-01-07T19:37:05Z 平盤以下不能放空對我國股市之影響 The effect of short-sales restriction below the last closing price on Taiwan stock market 鄭姿雯 多空頭股市 平盤以下不能放空 本研究主要目的在探討,平盤以下不能放空政策對於我國股市的影響。由於平盤 以下不能放空政策主要在限制,空頭時間的融券放空,雖其可能可以減少作空的 力度,可是,相對而言,由於空頭交易日不能融券作空,代表平盤以下的個股不 得進行融券當沖,因而對交易量產生相當程度的負面衝擊。其次,平盤以下不 能放空會造成空頭恆空,多頭恆多的現象,也就是資金會更集中於市場注目的產 業或類股。研究結果發現整體而言平盤限制使得成交量、週轉率、標準化的成交 量皆有顯著降低。 The purpose of this research is to discuss the effects of short sales restrictions below the last closing price on Taiwan stock market. The main restriction of the policy is the limitation of short sale in the declining market. First, the policy could lighten the force of the short sale; however, on the other hand it means that some stocks could not day trade when their price of the short sale is below the last closing price. Therefore, the volumes of the trade would have the negative effects due to the policy. Second, the policy could result in the down market remaining declining or the up market remaining increasing. In other word, it makes the capital accumulate in the certain focusing industries or stocks. The empirical results show that the volumes of the trade, the turnover and the standardized trading volume decrease after the short-sales restrictions below the last closing price takes effect. 國立政治大學 http://thesis.lib.nccu.edu.tw/cgi-bin/cdrfb3/gsweb.cgi?o=dstdcdr&i=sid=%22G0098353041%22. text 中文 Copyright © nccu library on behalf of the copyright holders
collection NDLTD
language 中文
sources NDLTD
topic 多空頭股市
平盤以下不能放空
spellingShingle 多空頭股市
平盤以下不能放空
鄭姿雯
平盤以下不能放空對我國股市之影響
description 本研究主要目的在探討,平盤以下不能放空政策對於我國股市的影響。由於平盤 以下不能放空政策主要在限制,空頭時間的融券放空,雖其可能可以減少作空的 力度,可是,相對而言,由於空頭交易日不能融券作空,代表平盤以下的個股不 得進行融券當沖,因而對交易量產生相當程度的負面衝擊。其次,平盤以下不 能放空會造成空頭恆空,多頭恆多的現象,也就是資金會更集中於市場注目的產 業或類股。研究結果發現整體而言平盤限制使得成交量、週轉率、標準化的成交 量皆有顯著降低。 === The purpose of this research is to discuss the effects of short sales restrictions below the last closing price on Taiwan stock market. The main restriction of the policy is the limitation of short sale in the declining market. First, the policy could lighten the force of the short sale; however, on the other hand it means that some stocks could not day trade when their price of the short sale is below the last closing price. Therefore, the volumes of the trade would have the negative effects due to the policy. Second, the policy could result in the down market remaining declining or the up market remaining increasing. In other word, it makes the capital accumulate in the certain focusing industries or stocks. The empirical results show that the volumes of the trade, the turnover and the standardized trading volume decrease after the short-sales restrictions below the last closing price takes effect.
author 鄭姿雯
author_facet 鄭姿雯
author_sort 鄭姿雯
title 平盤以下不能放空對我國股市之影響
title_short 平盤以下不能放空對我國股市之影響
title_full 平盤以下不能放空對我國股市之影響
title_fullStr 平盤以下不能放空對我國股市之影響
title_full_unstemmed 平盤以下不能放空對我國股市之影響
title_sort 平盤以下不能放空對我國股市之影響
publisher 國立政治大學
url http://thesis.lib.nccu.edu.tw/cgi-bin/cdrfb3/gsweb.cgi?o=dstdcdr&i=sid=%22G0098353041%22.
work_keys_str_mv AT zhèngzīwén píngpányǐxiàbùnéngfàngkōngduìwǒguógǔshìzhīyǐngxiǎng
AT zhèngzīwén theeffectofshortsalesrestrictionbelowthelastclosingpriceontaiwanstockmarket
_version_ 1716468552234434560