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The impact of the French Tobin tax

  • Becchetti, Leonardo

    ()

    (University of Roma Tor Vergata)

  • Ferrari, Massimo

    ()

    (University of Roma Tor Vergata)

  • Trenta, Ugo

    ()

    (Poste Italiane)

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.

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Paper provided by Associazione Italiana per la Cultura della Cooperazione e del Non Profit in its series AICCON Working Papers with number 118-2013.

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Length: 31 pages
Date of creation: 01 Feb 2013
Date of revision:
Handle: RePEc:ris:aiccon:2013_118
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