The microstructure of Asian equity markets |
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Authors: | S. Ghon Rhee Rosita P. Chang |
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Affiliation: | (1) Pacific-Basin Capital Markets (PACAP) Research Center, College of Business Administration, University of Rhode Island, 02881-0802 Kingston, R.I;(2) Pacific-Basin Capital Markerts (PACAP) Research Center, College of Business Administration, University of Rhode Island, 02881-0802 Kingston, R.I. |
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Abstract: | This study provides an overview of six stock markets in Asia, including Hong Kong, Korea, Malaysia, Singapore, Taiwan, and Thailand. We find that the Asian stock exchanges have adopted numerous new concepts in terms of market structure, trading method, and the clearing and settlement system. As a group, they provide an intersting setting for empirical investigation due to their unique characteristics not found in the stock exchanges in advanced countries. |
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