The accuracy of five algorithms for classifying trades as buyer- or seller-initiated is assessed for BIST-30 index constituents over a period including the Lehman collapse. The highest classification accuracy rate (over 95%) is for the one-second lagged Lee & Ready (LR) algorithm. The LR's...

The purpose of this paper is to show that the common law governing the employment of labour in the United States makes the distinction not only between employees and independent contractors but also between employees characterized as 'servants' and employees as 'agents.' This paper also uses an...