Does Pre-trade Transparency Affect Market Quality in the Tokyo Stock Exchange?
Hideaki Sakawa () and
Masato Ubukata ()
Additional contact information
Masato Ubukata: Kushiro Public University of Economics
Economics Bulletin, 2012, vol. 32, issue 3, 2103-2112
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 (search for similar items in EconPapers)
JEL-codes: G1 G0 (search for similar items in EconPapers)
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Working Paper: Does Pre-trade Transparency Affect Market Quality in the Tokyo Stock Exchange? (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-12-00521
Access Statistics for this article
More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().