Financial Regulation and Stock Market Volatility in the Athens Stock Exchange
This study examines the impact of one measure of financial regulation, namely that of a price limit imposition, on return volatility of selected different capitalization stocks in the Athens Stock Exchange for different periods. It emphasizes the role of shifting binding constraints on stock trading versus that of changes in general market information and focuses, more specifically, on the extent of the cooling-off effect. It is shown that the cooling-off hypothesis is confirmed only with respect to the large capitalization stocks but not for all time periods, whilst it is contradicted with respect to the middle level capitalization stocks and to a lesser extent to the small capitalization stocks. Similar tendencies are observed with respect to both daily and monthly data. In addition, the results show that differential variance changes between the different capitalization stocks. Overall, the empirical results do not provide strong support for the cooling-off hypothesis, except only for the large capitalization stocks.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 52 (1999)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: Via Garibaldi 4, 16124 Genova, Italy|
Phone: +39 010 27041
Fax: +39 010 2704222
Web page: http://www.iei1946.it/it/index.php
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ris:ecoint:0276. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angela Procopio)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.