augmenting a price-discovery mechanism with a size-discovery mechanism improves allocative efficiency …

significantly drops after the public data platform is established in a firm’s headquarters city. The underlying mechanism is …

regulations lead to improvements in a number of market quality measures, this generally does not translate into higher welfare for … long-term investors. Rather, the main effect of such regulations is to generate wealth transfers from high …-frequency traders to slow speculators. These regulations therefore appear inadequate to enhance investor welfare in the presence of HFTs …

regulations, I find that abnormal stock returns are lower for firms having higher product market concentration and for firms …