@article {1975646,
	title = {Effect of price limits: initial public offerings versus seasoned equities},
	journal = {International Review of Finance},
	volume = {9},
	year = {2009},
	month = {2009},
	pages = {295-318},
	abstract = {In this paper, we examine the effect of price limits on initial public offerings (IPOs) using Taiwanese data. On average, it takes 6.24 days for IPOs to reach their equilibrium prices in the presence of a 7\% price limit. We compare IPOs with their industry- and size-matched seasoned equities (MSEs) and observe higher volatility levels on subsequent days for IPOs than for MSEs. However, the higher volatility decays within 2 days. Lower price limits interfere with trading and lead to higher trading activity on subsequent days for IPOs than for MSEs. We also observe delayed price discovery for both IPOs and MSEs. Overall, our results provide evidence about the effect of price limits on IPOs and generate important regulatory implications for countries imposing price limits on IPOs.},
	keywords = {Finance},
	author = {Kim,Yong H. and Yang,Jimmy}
}
@article {1975651,
	title = {The Effect of Price Limits on Intraday Volatility and Information Asymmetry},
	journal = {Pacific-Basin Finance Journal},
	volume = {16},
	year = {2008},
	month = {2008},
	pages = {522-538},
	abstract = {We investigate the effect of price limits on intra-day volatility and information asymmetry using transactions data from the Taiwan Stock Exchange. Proponents of price limits argue that they provide an opportunity for investors to reevaluate market information and make more rational trading decisions. We identify three different limit hits {\textendash} closing, single, and consecutive {\textendash} and hypothesize that only the consecutive limit hits are likely to provide such an opportunity, namely, to counter investor overreaction (volatility hypothesis) and to enhance information revelation (information asymmetry hypothesis). Our empirical evidence supports the volatility hypothesis. Our findings generate important policy implications for stock markets that have price limits.},
	keywords = {Finance},
	author = {Kim,Yong H. and 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 {1979246,
	title = {The Magnet Effect of Price Limits: Evidence from Transactions Data},
	year = {2007},
	month = {2007},
	address = {Hong Kong},
	keywords = {Finance, Supply Chain},
	author = {Hsieh,Ping-Hung and Kim,Yong H. and Yang,Jimmy}
}
