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Price Discovery and Convergence in Fragmented Securities Markets

Clapham, Benjamin - 2016

This paper studies price discovery and price convergence in securities trading within a fragmented market environment where stocks are traded on multiple venues. Although alternative venues currently increase their market share, trading on these venues instantly dries out in case the dominant...

Persistent link: https://www.econbiz.de/10013004588

Strategies on Initial Public Offering of Company Equity at Stock Exchanges in Imperfect Highly Volatile Global Capital Markets with Induced Nonlinearities

Ledenyov, Dimitri - 2015

This research considers the strategies on the initial public offering of company equity at the stock exchanges in the imperfect highly volatile global capital markets with the nonlinearities. We provide the IPO definition and compare the initial listing requirements on the various markets. We...

Persistent link: https://www.econbiz.de/10013026463

'Brexit' : A Case Study in the Relationship between Political and Financial Market Uncertainty

Smales, Lee A. - 2016

This letter explores a single research question: How does political uncertainty, outside of the election cycle, influence financial market uncertainty? Using the UK (‘Brexit') referendum on EU membership as a novel event to examine this question, I identify a positive and well defined...

Persistent link: https://www.econbiz.de/10012987326

Evolution in value relevance of accounting information

Barth, Mary E.; Li, Ken; McClure, Charles - 2018

We address how value relevance of accounting information evolved as the new economy developed. Prior research concludes accounting information—primarily earnings—has lost relevance. We consider more accounting amounts and find no decline in combined value relevance from 1962 to 2014. We...

Persistent link: https://www.econbiz.de/10011870279

Cross-category, trans-Pacific spillovers of policy uncertainty and financial market volatility

Thiem, Christopher - 2018

kategorieübergreifende Unsicherheits-Spillover-Effekte zwischen den USA und Japan. Dabei betrachten wir sowohl wirtschaftspolitische …-WPU-Spillover zwischen den USA und Japan sowohl zeit- als auch kategorieabhängig ist. Dabei fungieren im Laufe des Untersuchungszeitraums …-category spillovers of economic policy uncertainty (EPU) and financial market volatility between the US and Japan. Our model includes …

Persistent link: https://www.econbiz.de/10011954058

Naked short selling : the emperor's new clothes?

Yadav, Pradeep; Fotak, Veljko; Raman, Vikas - 2009

Regulatory and media concern has focused heavily on the potentially manipulative distortion of market prices associated with naked short selling. However, naked shorting can also have beneficial effects for liquidity and pricing efficiency. We empirically investigate the impact of naked...

Persistent link: https://www.econbiz.de/10003919368

Analysis of Stock Market Manipulations Using Knowledge Discovery Techniques Applied to Intraday Trade Prices

Diaz, David - 2011

This paper addresses challenges relating to applying data mining techniques to detect stock price manipulations and extends previous results by incorporating the analysis of intraday trade prices in addition to closing prices for the investigation of trade-based manipulations. In particular,...

Persistent link: https://www.econbiz.de/10013133860

Fails to Deliver : The Price Impact of Naked Short Sales

Stone, Elizabeth - 2010

The effect of naked short selling on asset prices and trading dynamics is a prominent topic of debate among market participants, regulators, and the popular press. This paper evaluates the validity of the claim that naked shorting leads to negative excess returns by creating additional selling...

Persistent link: https://www.econbiz.de/10013137736

Short Sale Constraints and the Likelihood of Crashes and Bubbles

Klein, Arne Christian - 2012

In this paper, we investigate short sale constraints' impact on the incidence of extreme stock market movements. The latter can be used to proxy for the likelihood of tail events like crashes and bubbles in a market and, thus, is a crucial measure of stock market stability. Since crashes and...

Persistent link: https://www.econbiz.de/10013113770

Anything Wrong with Breaking a Buck? An Empirical Evaluation of Nasdaq’s $1 Minimum Bid Price Maintenance Criterion

Rhee, S. Ghon - 2011

This paper empirically evaluates the effects of NASDAQ's $1 minimum bid price threshold (known as the one-dollar rule) as part of its listing maintenance criteria. Even though this controversial rule was introduced as early as September 1991, its economic impact has been largely unexplored by...

Persistent link: https://www.econbiz.de/10013119765

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