| Summary: | 碩士 === 國立中正大學 === 企業管理學系碩士在職專班 === 107 === The bid-ask spread ,market depth and volatility were used as the proxy variables of the market transaction quality in the study. The intraday transaction data of TWSE stocks from January 1, 2015 to June 30, 2018 were used to examine the relationship between industry exhibitions and the market transaction quality. And refer to (Madhavan, Porter & Weaver , 2005)、(Boehmer, Saar & Yu , 2005)to analyze market transaction quality and conduct regression analysis. The results revealed that before the exhibition, the bid-ask spread increased and the market depth decreased. And in the exhibition the bid-ask spread decreased and the market depth increased. The information in the exhibition is more valuable than before the exhibition. Investors can get the actual value of the company from the information in the exhibition, reduce the information asymmetry and understand the competitive performance of the new products.The empirical results show that the information in the exhibition can increase market liquidity and improve the market transaction quality than before the exhibition.
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