Applied Financial Economics , 2007 , 17 , 1455 – 1467 Security transaction taxes and financial volatility : Athens stock exchange

  title={Applied Financial Economics , 2007 , 17 , 1455 – 1467 Security transaction taxes and financial volatility : Athens stock exchange},
  author={Kate Phylaktis and Antonis Aristidou},
The study examines the effects of security transaction tax on volatility. It focuses on whether the tax has a greater effect on highly traded stocks since it penalizes entering and exiting the market and on whether it depends on the state of the stock market. The results highlight the differential effect of transaction tax on volatility during bear and bull periods casting doubts on the findings of previous studies, which did not allow for that. The effects are stronger for highly traded stocks… CONTINUE READING

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