Is Penny Trading Optimal for Closed-End Funds in China

59 Pages Posted: 26 May 2003

See all articles by Li Wei

Li Wei

New York Stock Exchange NYSE - Strategy and Research

Donghui Shi

Shanghai Stock Exchange

Date Written: January 2002

Abstract

The research is conducted when the first author was an Assistant Professor of Finance at Iowa State University and a Senior Visiting Financial Economist at the Shanghai Stock Exchange. The first author is grateful to the support and the generous funding from the Shanghai Stock Exchange. In particular, the authors thank Xinghai Fang, Ruyin Hu, Di Liu, Hao Fu, Zhanfeng Chen, Danian Sidu, and Xiaonan Lu for their helpful comments and research support. The comments and point of views expressed in the paper, however, are the authors own, and do not necessarily reflect the opinions of the New York Stock Exchange and the Shanghai Stock Exchange. Therefore, the authors are responsible for all remaining errors.

Keywords: Minimum Price Variation, Tick Size, Closed-end Funds

JEL Classification: G14, G18, G19

Suggested Citation

Wei, Li and Shi, Donghui, Is Penny Trading Optimal for Closed-End Funds in China (January 2002). Available at SSRN: https://ssrn.com/abstract=392596 or http://dx.doi.org/10.2139/ssrn.392596

Li Wei (Contact Author)

New York Stock Exchange NYSE - Strategy and Research ( email )

11 Wall Street
New York, NY 10005
United States

Donghui Shi

Shanghai Stock Exchange ( email )

Shanghai 200120
China

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