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Wettbewerb, Liquidität und die Rolle von Intermediation im Wertpapierhandel
Freihube, Thorsten - 2004
Persistent link: https://www.econbiz.de/10002122262
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Limit order books and trade informativeness
Beltran Lopez, Helena; Grammig, Joachim; Menkveld, Albert J. - 2011
In the microstructure literature, information asymmetry is an important determinant of market liquidity. The classic setting is that uninformed dedicated liquidity suppliers charge price concessions when incoming market orders are likely to be informationally motivated. In limit order book...
Persistent link: https://www.econbiz.de/10008902901
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Time and the price impact of a trade : a structural approach
Grammig, Joachim; Theissen, Erik; Wünsche, Oliver - 2011
We revisit the role of time in measuring the price impact of trades using a new empirical method that combines spread decomposition and dynamic duration modeling. Previous studies which have addressed the issue in a vector-autoregressive framework conclude that times when markets are most active...
Persistent link: https://www.econbiz.de/10008856379
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Is BEST really better? : internalization of orders in an open limit order book
Grammig, Joachim G.; Theissen, Erik - 2011
This paper studies the market quality of an internalization system which is designed as part of an open limit order book (the Xetra system operated by Deutsche Börse AG). The internalization sys-tem (Xetra BEST) guarantees a price improvement over the inside spread in the Xetra order book. We...
Persistent link: https://www.econbiz.de/10008822944
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Liquidity supply and adverse selection in a pure limit order book market
Frey, Stefan; Grammig, Joachim - 2005
capitalized stocks, and find empirical support for one of the main hypothesis put forth by the theory of limit order book markets …
Persistent link: https://www.econbiz.de/10009524819
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Is BEST really better? : internalization of orders in an open limit order book
Grammig, Joachim; Theissen, Erik - In: Schmalenbach business review : sbr 64 (2012) 2, pp. 82-100
Persistent link: https://www.econbiz.de/10009531974
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Zwischen Limit und Market Orders : innovative Ordertypen im elektronischen Wertpapierhandel
Kunzelmann, Matthias - 2006
Persistent link: https://www.econbiz.de/10003400444
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Germany's market transparency unit for fuels : fostering collusion or competition?
Horvath, Marco - 2019
To increase competition in the retail market for gasoline, Germany's Federal Cartel Office established the so … margins of gas stations. We find that the MTU fostered a more intense competition, with a reduction in price margins of 1 …Mit dem Ziel den Wettbewerb auf dem Benzinmarkt zu erhöhen, wurde die so genannte Markttransparenzstelle für …
Persistent link: https://www.econbiz.de/10012155116
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Das Underpricing-Phänomen bei kleinen Unternehmen
Bramhoff, Sandra - 2014
Erklärungsmodellen des Underpricing-Phänomens auf Basis der Agency-Theorie sowie Ableitung von Hypothesen zur Überprüfung von …-Phänomens auf Basis der Agency-Theorie sowie Ableitung von Hypothesen zur Überprüfung von Einflussfaktoren Empirische Untersuchung …
Persistent link: https://www.econbiz.de/10014020440