Repermitted margin increase or decrease stocks volume and volatility
碩士 === 國立高雄第一科技大學 === 財務管理研究所 === 102 === This paper investigates the influences of repermitted margin on the trading stocks volume and volatility on the Taiwan Stock Exchange (TWSE). The period analyzed covers from June 2005 to December 2013. To compare the trading volume and the price volatility i...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Others |
| Language: | zh-TW |
| Published: |
2014
|
| Online Access: | http://ndltd.ncl.edu.tw/handle/44638269928687455934 |
| Summary: | 碩士 === 國立高雄第一科技大學 === 財務管理研究所 === 102 === This paper investigates the influences of repermitted margin on the trading stocks volume and volatility on the Taiwan Stock Exchange (TWSE). The period analyzed covers from June 2005 to December 2013. To compare the trading volume and the price volatility in the period that the net value is below the par value because of the financial crisis and has been quitted margin by TWSE with those in the period that the net value raises above the par value and has been repermitted margin by the criteria. A GJR-GARCH model is used to study this effect whether the repermitted margin has the impact significantly on the stocks volume and volatility. Consequently, the investors using the margin that is repermitted by government increases the stocks volume and enhances the efficiency on the market. However, if they loss the confidence in the kind of investing because of the failure in investment prior, it can’t expand the trading volume obviously.
|
|---|