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    政大機構典藏 > 商學院 > 會計學系 > 期刊論文 >  Item 140.119/63943
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/63943

    Title: Limit Order Book Transparency and Investors' Welfares (2/2)
    Other Titles: 限價委託透明度與投資人行為:法人與散戶之研究
    Authors: 李怡宗
    Contributors: 會計系
    Date: 2006.10
    Issue Date: 2014-02-18 14:56:49 (UTC+8)
    Abstract: This paper investigates the impact of order book transparency on investors' behaviors.
    Our focus is to analyze whether institutions and/or individuals are able to make use of
    the information content from an open limit book. The data from Taiwan stock
    exchange allow us to trace the investors’ accounts and therefore, provide us a unique
    opportunity to analyze how investors adjust their order placement strategies after the
    increase of a transparent limit order book. This findings show that limit order book
    transparency does affect the order placements of investors, in particular for foreign
    investors, implying that foreign investors are more aware of the limit order
    information. Furthermore, we find that foreign investors become more aggressive in
    a transparent market by enjoying the aggregation ability of limit order book
    information. The findings of our study shed some light on experiment economics/
    information aggregations.
    Relation: 國科會
    計畫編號: NSC94-2416-H-004-006
    Data Type: article
    Appears in Collections:[會計學系] 期刊論文

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