The effect of technological developments on the stock market: evidence from emerging market

被引：2
|
作者：
Celik, Mehmet Sinan [1 ]
Ozturk, Mutlu Basaran [2 ]
Haykir, Ozkan [1 ]
机构：
[1] Nigde Omer Halisdemir Univ, Dept Finance & Banking, Nigde, Turkey
[2] Nigde Omer Halisdemir Univ, Dept Business Adm, Nigde, Turkey
来源：
APPLIED ECONOMICS LETTERS | 2024年 / 31卷 / 02期
关键词：
High-frequency trading; liquidity; volatility; Borsa Istanbul;
D O I：
10.1080/13504851.2022.2128172
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study investigates the effect of High-Frequency Trading on stock liquidity and volatility in Borsa Istanbul, Turkey which is one of the largest emerging markets where high-frequency trading is newly developed. We employ a fixed effect panel estimation model with Driscoll and Kraay correction between January 2016 and December 2020. The finding shows that an increase in high-frequency trading increases the liquidity and volatility. Moreover, the results are similar before the pandemic period and rising market period, whereas the impact of high-frequency trading on liquidity disappears during the pandemic period.
引用
收藏
页码：118 / 121
页数：4
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