YAO Ning. The Full-information Transaction Costs in China's Stock Market[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2008, 21(2): 1-4.
Citation:
YAO Ning. The Full-information Transaction Costs in China's Stock Market[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2008, 21(2): 1-4.
YAO Ning. The Full-information Transaction Costs in China's Stock Market[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2008, 21(2): 1-4.
Citation:
YAO Ning. The Full-information Transaction Costs in China's Stock Market[J]. Journal of Beijing University of Aeronautics and Astronautics Social Sciences Edition, 2008, 21(2): 1-4.
Based on the high frequency data, we made an empirical study on the full-inform ation transaction costs in China's stock market. Compared with effective spread, the results show that full-information transaction costs include private infor mation and learning on the part of market participants. As an ideal measurement of market efficiency, transaction costs can be accurately estimated through full -information transaction costs.
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