The Hong Kong Stock Exchange (HKEx) adopted a closing call auction in 2008 but suspended its operation ten months later … due to suspicion of widespread price manipulation. The Exchange relaunched the auction in 2016 with manipulation … call auction design on closing price manipulation. Our results indicate that a plain-vanilla call auction mechanism is …

companies exhibits a significant reduction of the noise during the auction …

reverse auction. Shares are allocated endogenously, depending on the suppliers ́bids. The procedure obtains dual sourcing by … than a standard auction for sole sourcing. We also show that providers reveal their costs truthfully and that the …

large orders and price changes during the last five seconds of the auction sessions. Such sniping attacks were associated … revert the day following a sniping attack. Although prices were on average more informative in a closing auction procedure …

By using the equality test and panel regression, we study the effects of around the last five minutes call auction of … volatility loadings, during the hided call auction period in stock market, will increase their price and lowers their average … return. With high uncertainty during last 5 minutes call auction period with hided information, futures markets are …

We analyze the welfare consequences of an increase in the commissions charged by the organizer of an auction … of tax incidence in consumer economics. We argue, however, that auction markets deserve a separate treatment. Indeed we …

auction system works, what it indicates about price formation, and how well it performs. We begin with a short description of … the mechanics of the auction system and then organize the remainder of our discussion around two major topics. The first … topic concerns how researchers have used auction prices. We begin by discussing the returns to holding art and whether …

The study has attempted to empirically examine the efficiency of Govt. securities auction in Indian market. It is … observed that prices of the securities under auction generally move downward between the date of announcement of auction and … the date of auction. The yield, duration, issue size, outstanding stocks of the security under auction have significant …