Order or Chaos: The Case of Cryptocurrency Platform
學年 108
學期 1
發表日期 2019-08-25
作品名稱 Order or Chaos: The Case of Cryptocurrency Platform
作品名稱（其他語言）
著者 Tsung-Han Ke; Hung-Chun Huang; Hsin-Yu Shih
作品所屬單位
出版者
會議名稱 Portland International Conference on Management of Engineering and Technology
會議地點 Portland, USA
摘要 The purpose of this study is to explore the market maturity of cryptocurrency trading platforms based on the information transmission perspective of financial market price volatility. This study uses the volatility spillovers index proposed by Diebold and Yilmaz [1][2] and uses the bitcoin trading platform to measure the total price volatility of cryptocurrency trading platforms, and the directional spillovers among the trading platforms. The sample period is from January 1, 2015 to September 30, 2018. In the empirical process, each sub-sample is taken every three months. The argument of this research indicated that if the cryptocurrency trading platforms' total spillover effects, with the rolling of the sub-sample period, show the increasing trend, and the trading platform has a staggered spillover effect with each other, indicating that cryptocurrency trading platforms exist the chaotic phenomenon, and the cryptocurrency market is in a stage of low maturity. On the contrary, if the total spillover effects are showing a decreasing trend and the spillover effects are mainly from a certain minority trading platforms, indicating that the cryptocurrency trading platforms present the order phenomenon, and cryptocurrency market is at a stage of high maturity. The contribution of this research is to identify the market maturity of the cryptocurrency trading platform, and to promote policy makers to propose a market-building mechanism for the market situation, so that the cryptocurrency has the opportunity to become a mainstream trading tool.
關鍵字 Online banking;Information processing;Chaos;Indexes
語言 en_US
收錄於
會議性質 國際
校內研討會地點 無
研討會時間 20190825~20190829
通訊作者
國別 USA
公開徵稿
出版型式
出處 2019 Portland International Conference on Management of Engineering and Technology (PICMET)
相關連結

機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/124393 )