Menkhoff, Lukas; Schmeling, Maik - Wirtschaftswissenschaftliche Fakultät, Leibniz … - 2006
regions. These regions are - as predicted by the local information hypothesis - centers of political and financial decision … making. It is revealing that orders from other regions only show a very short-lived but no permanent price impact. Local … information is so important that it carries over from the usually considered market orders to aggressively-priced limit orders too …