Showing 1 - 6 of 6
complexity. We perform a lexicographic analysis of the term sheets of 55,000 retail structured products issued in Europe since … 2002. We observe that financial complexity has been steadily increasing, even after the recent financial crisis, and that … financial complexity is more prevalent among distributors with a less sophisticated investor base. Complex products exhibit …
Persistent link: https://www.econbiz.de/10010832960
In this paper, the authors consider a multi-period rational expectations model in which risk-averse investors differ in their information on past transaction prices (the ticker). Some investors (insiders) observe prices in real-time whereas other investors (outsiders) observe prices with a delay.
Persistent link: https://www.econbiz.de/10005011529
We analyze the effect of concealing limit order traders’ identities on market liquidity. We develop a model in which limit order traders have asymmetric information on the cost of limit order trading (which is determined by the exposure to informed trading). A thin limit order book signals to...
Persistent link: https://www.econbiz.de/10005011558
law. After addressing the semantic confusion existing between openness and transparency, it attempts – through a textual …
Persistent link: https://www.econbiz.de/10010705512
The authors find evidence supporting the hypothesis that countries at times misreport their eco-nomic data in a strategic manner. Among those suspected are countries with xed exchange rate regimes, high negative net foreign asset positions or negative current account balances, which corroborates...
Persistent link: https://www.econbiz.de/10008672466
Transparency is one of the fundamental norms that structure our contemporary individual, organizational and social … authors undertake a conceptual genealogy of the powerful notion of transparency. Starting with its Enlightenment roots, they … explore the multiple competing and conflicting mobilizations of the notion of transparency through time to liberate, to …
Persistent link: https://www.econbiz.de/10011147683