All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC
ralph lauren polo

 
Hideaki Sakawa and Masato Ubukata
 
''Does Pre-trade Transparency Affect Market Quality in the Tokyo Stock Exchange?''
( 2012, Vol. 32 No.3 )
 
 
This paper examines the relation between pre-trade transparency and market quality in the Tokyo Stock Exchange (TSE). Mixed evidence related to this relation has been reported worldwide. We analyze this relation using evidence from a change in the TSE disclosure policy in the 2000s. We find a positive relation between pre-trade transparency and market quality. This result implies that the change in the TSE disclosure policy was effective in improving market quality.
 
 
Keywords: Pre-trade transparency; Market quality; Quote disclosure
JEL: G1 - General Financial Markets: General (includes Measurement and Data)
G0 - Financial Economics: General
 
Manuscript Received : Jul 16 2012 Manuscript Accepted : Jul 26 2012

  This abstract has been downloaded 203 times                The Full PDF of this paper has been downloaded 87727 times