@article {1975616,
	title = {A rare move: the effects of switching from a closing call auction to a continuous trading},
	journal = {The Journal of Futures Markets},
	volume = {40},
	year = {2020},
	month = {2020},
	pages = {308-328},
	abstract = {This study investigates the effects of switching to a closing continuous trading (CCT) on market quality, while considering the trading behaviors of different types of traders. Investors become more patient in the period preceding the last trading phase, which reduces the bid{\textendash}ask spread (BAS) in that period. We find an increase in the BAS and volatility during the last trading phase, due to diminishing investor patience. Market volatility and the closing pricing errors relate positively to the trading activities of foreign institutional investors. Overall, the introduction of the CCT worsens the market quality before the closing.},
	keywords = {Finance},
	author = {Chang,Ya-Kai and Chou,Robin K and Yang,Jimmy}
}
@article {1975636,
	title = {Reconsidering Price Limit Effectiveness},
	journal = {Journal of Financial Research},
	volume = {36},
	year = {2013},
	month = {2013},
	pages = {493-518},
	abstract = {Most stock exchanges around the world impose daily price limits on stock prices. However, China is the only market that has experienced trading with and without price limits. We study China{\textquoteright}s experience with price limits by comparing a subperiod with price limits to a subperiod without price limits. We provide three major sets of findings. First, we find price limits moderate transitory volatility and mitigates abnormal trading activity. Second, for poor performing stocks, a tighter price limit also appears helpful in moderating volatility and not hurtful. Finally, we find some evidence that price limits can facilitate market recovery following crashes. Many prior studies criticize price limits. Our study shows benefits of price limits.},
	keywords = {Finance},
	author = {Kim,Kenneth and Liu,Haixiao and Yang,Jimmy}
}
@article {1983866,
	title = {Reconsidering Price Limit Effectiveness},
	year = {2011},
	month = {2011},
	address = {Macao},
	keywords = {Finance},
	author = {Yang,Jimmy}
}
@article {1983871,
	title = {Reconsidering Price Limit Effectiveness},
	year = {2011},
	month = {2011},
	address = {Sydney, Australia},
	keywords = {Finance},
	author = {Yang,Jimmy}
}
@article {1975656,
	title = {Relative Performance of Trading Halts and Price Limits: Evidence from the Spanish Stock Exchange},
	journal = {International Review of Economics and Finance},
	volume = {17},
	year = {2008},
	month = {2008},
	pages = {197-215},
	abstract = {We study the relative performance of trading halts and price limits using data from the Spanish Stock Exchange where both mechanisms have coexisted. According to our evidence, trading activity increases after either mechanism is triggered. Volatility stays the same after trading halts but increases after price limit hits. Our evidence also shows that the bid{\textendash}ask spread is narrower after trading halts but wider after price limit hits. Information is efficiently reflected in stock prices once trading resumes after trading halts, but there is evidence of market overreaction for upper price limits. Our overall result may have important policy implications for financial markets in the world.},
	keywords = {Finance},
	author = {Kim,Yong H. and Yague,Jose and Yang,Jimmy}
}
@article {1983916,
	title = {The relative performance between price limits and trading halts: Spanish evidence},
	year = {2003},
	month = {2003},
	address = {Corvallis, OR},
	keywords = {Finance},
	author = {Yang,Jimmy and Kim ,Yong  H. and Yague,Jose}
}
@article {1983911,
	title = {The relative performance between price limits and trading halts: Spanish evidence},
	year = {2003},
	month = {2003},
	address = {Denver CO},
	keywords = {Finance},
	author = {Yang,Jimmy and Kim,Yong  H. and Yague,Jose}
}
@article {1983921,
	title = {The relative performance between price limits and trading halts: Spanish evidence},
	year = {2002},
	month = {2002},
	keywords = {Finance},
	author = {Yang,Jimmy and Kim,Yong  H. and Yague,Jose}
}
