setting, competition may improve retailer profits and price synchronization may reduce retailer profits, both of which are …

beliefs, knowledge and trading strategies. This paper studies the interactions between heterogeneous traders and their impacts … satisfied, the market can aggregate the information to form “good knowledge” about the price. If investors have high risk …

This paper studies whether knowledge protection affects shareholder value and firms' investment in knowledge assets … changes in the level of knowledge protection. We find positive (negative) abnormal stock returns around the IDD adoption … knowledge assets. Moreover, the effects on stock returns and knowledge assets investment are stronger in more knowledge …

competitive advantage by learning from others -- through knowledge spillovers. This research hypothesizes that firms headquartered … near a knowledge center, as defined by Carnegie Classifications' 196 leading research universities in the United States …, innovate more and experience higher stock volatility. We argue that knowledge spillovers foster firms' innovative ability in an …

This paper studies whether knowledge protection affects shareholder value and firms' investment in knowledge assets … changes in the level of knowledge protection. We find positive (negative) abnormal stock returns around the IDD adoption … knowledge assets. Moreover, the effects on stock returns and knowledge assets investment are stronger in more knowledge …

We study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market …-frequency competition, and contains an exogenous event - a tick size reform - which we use to disentangle the effects of the rising share of … high-frequency trading in the market from the effects of high-frequency competition. We find that when HFTs compete, their …