Does high-frequency trading cause stock prices to deviate from fundamental values?

IF 2 4区 管理学 Q2 BUSINESS, FINANCE Accounting and Business Research Pub Date : 2023-11-23 DOI:10.1080/00014788.2023.2258787
Michael Jung, Kyung Yoon Kwon, Hyungshin Park
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Abstract

We examine whether high-frequency trading (HFT) is associated with greater deviations of stock prices from firms’ fundamental, intrinsic values. Prior studies show that HFT can improve market liqui...
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高频交易是否会导致股价偏离基本价值?
我们研究高频交易(HFT)是否与股票价格偏离公司基本内在价值的较大偏差有关。已有研究表明,高频交易可以提高市场流动性。
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来源期刊
CiteScore
3.40
自引率
11.80%
发文量
38
期刊介绍: Accounting and Business Research publishes papers containing a substantial and original contribution to knowledge. Papers may cover any area of accounting, broadly defined and including corporate governance, auditing and taxation. However the focus must be accounting, rather than (corporate) finance or general management. Authors may take a theoretical or an empirical approach, using either quantitative or qualitative methods. They may aim to contribute to developing and understanding the role of accounting in business. Papers should be rigorous but also written in a way that makes them intelligible to a wide range of academics and, where appropriate, practitioners.
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