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Efficient order execution in electronic equity trading is a relevant source of portfolio performance both for investors and for investment firms when trading on own account. New technological innovations are expected to increase efficiency in order execution. In Europe, fragmentation of...
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This paper examines intraday stock price effects and trading activity caused by ad hoc disclosures in Germany. The evidence suggests that the observed stock prices react within 90 minutes after the ad hoc disclosures. Trading volumes take even longer to adjust. We find no evidence for abnormal...
Persistent link: https://www.econbiz.de/10002579429
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