The impact of the French Tobin tax

Leonardo Becchetti, Massimo Ferrari and Ugo Trenta ()
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Ugo Trenta: Poste Italiane

No 118-2013, AICCON Working Papers from Associazione Italiana per la Cultura della Cooperazione e del Non Profit

Abstract: We analyse the impact of the introduction of the French Tobin tax on volumes, liquidity and volatility of a ected stocks with parametric and non parametric tests on individual stocks, di erence in di erence tests and other robustness checks controlling for simultaneous month-of-the-year and size e ects. Our ndings document that the tax has a signi cant impact in terms of reduction in transaction volumes and intraday volatility. The reduction in volumes traded occurs in similar proportion in non taxed small cap stocks.

Keywords: Financial Transaction Tax; intraday volatility; liquidity; transaction volumes. (search for similar items in EconPapers)
JEL-codes: G12 G14 G18 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2013-02-01
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Citations: View citations in EconPapers (18)

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Related works:
Journal Article: The impact of the French Tobin tax (2014)
Working Paper: The impact of the French Tobin tax (2013)
Working Paper: The impact of the French Tobin tax (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:aiccon:2013_118

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