Pre-close Transparency and Price Efficiency at Market Closing: Evidence from the Taiwan Stock Exchange

Article OPEN
Cheng-Yi Chien;
(2013)
  • Journal: The International Journal of Business and Finance Research,volume 7,issue 2,pages17-26
  • Subject: Transparency, Closing Call, Price Efficiency, Taiwan Stock Exchange
    • jel: jel:G14 | jel:G15 | jel:G18

This paper examines the impact of increased pre-close transparency on the effectiveness of stock closing call. On January 1, 2003, the Taiwan Stock Exchange increases pre-close transparency by disclosing the best five bid and ask prices and related unexecuted orders bef... View more
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