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영어

The online stock trading has begun to spread in 1998. And HTS started to be evaluated by Stockpia, 100hot and this reports, which specializes in evaluation of financial online sites from the 1st quarter of year 2000. This study is to examine whether the evaluation on HTS has an impact on the stock prices of the security corporations. For the evaluation of the relation, I classified the security corporations into three groups(high group, middle group, low group) and compared the market share after the 1st quarter of year 2000. And I classified two groups(2 top and 5 top) in high group and compared the value-fluctuation of the securities industry with theirs at the identical time and thoroughly analyzed the results. Accordingly the increase rate of the 5 top ranked corp. showed remarkably higher than the securities industry's. Moreover, the increase rate of the 2 top ranked corporations surpassed the 5 top ranked corporations. As the total volume of online trading has increased in the stock trading market, the number of new customers has also increased for the security corporations, which received high ranks on their HTS based on the evaluation results, and their market shares have risen relatively. Therefore, it seems that receiving high ranks on their HTS has a positive impact on their stock prices.