胡星陽2006-07-262018-07-092006-07-262018-07-092005http://ntur.lib.ntu.edu.tw//handle/246246/16290本計畫研究證券交易稅對股市的影響。經濟學家對於交易稅對波動性的影響，有截然 不同的預測：Keynes 、Tobin 、Summers 認為交易稅可以降低波動性，Kupiec 和Stulz 則持相反的看法。此外，倫敦交易所認為降低交易稅可以提高股價，提高交易量，因 而建議降低交易稅。本計畫藉由實際資料，對這些問題提供答案。樣本包括從1994 到2002 之間在全球8 個交易所發生的12 次交易稅改變的事件。探討的方向包括宣布 日時市場的反應，生效日前後波動性和交易量的差異。This project studies the effect of stock transactions tax on the stock market. Understanding this issue can benefit both policy makers and practitioners. There have been opposite predictions made by economists. Keynes, Tobin, and Summers predict that transactions tax can reduce volatility, while Kupiec and Stulz predict the opposite. London Stock Exchange proposes to reduce the transaction tax because it can raise stock prices and increase trading volumes. This project tries to provide answers to these questions. Our sample consists of 12 tax changes from 1994 to 2002 in 8 exchanges around the world. This project will examine the annuncement return, changes in volatility and turnover after the tax change.application/pdf196332 bytesapplication/pdfzh-TW國立臺灣大學財務金融學系暨研究所reporthttp://ntur.lib.ntu.edu.tw/bitstream/246246/16290/1/932416H002035.pdf