Abstract
ABSTRACT This study investigates the effect of High-Frequency Trading on stock liquidity and volatility in Borsa Istanbul, Turkey which is one of the largest emerging markets where high-frequency trading is newly developed. We employ a fixed effect panel estimation model with Driscoll and Kraay correction between January 2016 and December 2020. The finding shows that an increase in high-frequency trading increases the liquidity and volatility. Moreover, the results are similar before the pandemic period and rising market period, whereas the impact of high-frequency trading on liquidity disappears during the pandemic period.
Full Text 
Sign-in/Register to access full text options
Sign-in/Register to access full text options 
Published version (
Free)
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
