Title: THE IMPACT OF TRADING HALTS ON LIQUIDITY OF THE TEHRAN STOCK EXCHANGE
Abstract: This research examines the behavior of trading halt in liquidity of Tehran Stock Exchange. The statistical population of this study includes all of the companies listed in Tehran Stock Exchange. Using simple random sampling, 469 companies have been selected among the companies listed in the stock exchange and they were analyzed during the time period of 2009-2012. The collected data was analyzed using Wilcoxon test and Spss software version 19 and according to the results, there is a negative significant relationship between the indicators of liquidity (trading volume and price volatility and market depth) and trading halt. This means that these variables are reduced by applying trading halt. The Bid-Ask spread index is related negatively and directly to trading halt. This indicates that the value of this variable is increased by applying a trading halt. Therefore it can be concluded that trading halt is not an efficient mechanism in Tehran Stock Exchange.
Publication Year: 2014
Publication Date: 2014-01-01
Language: en
Type: article
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