This paper provides a review of the market microstructure of ten Asia-Pacific stock
exchanges. Asia-Pacific stock exchanges face significant challenges in an increasingly …

Purpose–The purpose of this paper is to review the literature on liquidity in international
stock markets, highlights differences and similarities in empirical results across existing …

In this paper, we review the history of scholarly finance research in the A sia P acific B asin.
We do this by analysing the four leading regional finance journals–A ccounting and F …

Economically insignificant tick sizes encourage undercutting behavior, thus harming market
quality. Theoretical work shows that increasing tick sizes in unconstrained markets reduces …

The past decade has been marked by an increase in the number of products sold through
online shops. Various types of businesses that originally were only available offline have …

In this paper, we aim to make more “liquid” our general understanding of liquidity research in
finance. Our review of the relevant literature shows that it covers an extensive territory …

This study provides critical observations on the state of key global equity markets as recent
developments have put into question their efficiency and effectiveness in facilitating capital …

We document the significant predictive power of firms' asset liquidity in the cross section of
subsequent stock returns. The annual return spread between portfolios featuring the highest …

This paper examines how a reduction in the minimum tick size affects the behaviour of
pseudo market-makers and market quality. Consistent with prior findings, this study …

Using limit order book data, this study investigates the effects of minimum tick size reduction
on price discovery and order submission strategies during the preopen call auction period in …