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당일매매와 주가행태에 관한 연구 : How Intraday Tradings Influenced Market Efficiency of Korea Stock Exchange Market?
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 박정식 | - |
dc.date.accessioned | 2010-01-26 | - |
dc.date.available | 2010-01-26 | - |
dc.date.issued | 2001-12 | - |
dc.identifier.citation | 경영논집, Vol.35 No.4, pp. 99-115 | - |
dc.identifier.issn | 1229-0491 | - |
dc.identifier.uri | https://hdl.handle.net/10371/44348 | - |
dc.description | 2001-12 | - |
dc.description.abstract | When we justify intraday trading rate as the proportion of trades by whom a person buy
and sell the same stock in a day, the Korea Stock Exchange market recorded highest rate last two years (2000 and 2001). So we can doubt about its harmful influence as an angle of market destabilization. I have tested three suspicious fact in relation to intraday tradings. First, I am doubtful whether indraday tradings made a change of weekly return features. I found that for the period of July 2000 to June 2000 there existed significantly low Friday returns in high intraday trading rate portfolio. Second, I have tested that intraday tradings struck true price of market. And I found that the higher intraday trading rate, the larger average residuals of market model. Third, I found that highest intraday trading rate portfolio have recorded significantly higher intraday volatilities. But this fact doesnt mean intraday trading make more rikier the stock market, because intraday trader gathered on the stock which has high intraday volatility. These result back up the opinion of ristrictionist that intraday trading make market more inefficiently and government should regulate intraday tradings. | - |
dc.language.iso | ko | - |
dc.publisher | 서울대학교 경영연구소 | - |
dc.subject | 99-115 | - |
dc.title | 당일매매와 주가행태에 관한 연구 | - |
dc.title.alternative | How Intraday Tradings Influenced Market Efficiency of Korea Stock Exchange Market? | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | Park, Jeangsik | - |
dc.citation.journaltitle | 경영논집 | - |
dc.citation.endpage | 115 | - |
dc.citation.number | 4 | - |
dc.citation.pages | 99-115 | - |
dc.citation.startpage | 99 | - |
dc.citation.volume | 35 | - |
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