Speculation or hedging in the Irish stock exchange
Brian Lucey ()
Applied Financial Economics Letters, 2005, vol. 1, issue 1, 9-14
This study provides some evidence on the speulation or hedging motives of traders as extracted from the recent Llorente et al . (2002) model, for the Irish stock exchange. It is clear that the findings of Llorente et al. and Ciner (2003) do not transfer well to the Irish case. The more complex the econometric methodology the less the propositions of the model are supported by the data. A simple model provides evidence of significant speculation in the Irish market, while a more complex GARCH formulation with volume included as an explanatory variable in the conditional variance provides little support for the propositions of Llorente et al . Further research therefore is indicated.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
http://taylorandfrancis.metapress.com/link.asp?tar ... &id=H1K7K143EA4VW5TR (text/html)
Access to full text is restricted to subscribers.
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:taf:apfelt:v:1:y:2005:i:1:p:9-14
Ordering information: This journal article can be ordered from
Access Statistics for this article
Applied Financial Economics Letters is currently edited by Mark Taylor
More articles in Applied Financial Economics Letters from Taylor and Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().