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value the market assigns to decentralized versus centralized exchanges. We find the market assigns a significant value to …
Persistent link: https://www.econbiz.de/10014350756
of U.S. bond market transactions, bond issue deals, and underwriter ownership structure from 2005 to 2015. Compared to … advantage in market-making …
Persistent link: https://www.econbiz.de/10012899137
.S. bond market transactions, ownership structure, and bond issues from 2005 to 2015. Compared to dealers unaffiliated to the … hedging, informed trading, or competitive advantage in market-making …
Persistent link: https://www.econbiz.de/10012899899
This study uses security-level investor demand and dynamic pricing information in the primary bond market to examine …
Persistent link: https://www.econbiz.de/10013405355
's configuration on market outcomes remains unclear. In this study, we utilize order-level data from real-world financial markets to …. More specifically, we find that increasing the blocks' capacity improves market activity, while higher block frequencies …
Persistent link: https://www.econbiz.de/10012894630
lead to a market breakdown where information production ceases, and investment and firm value collapse. Our theory sheds … that would not be undertaken in the absence of positive news from the stock market. A small decline in fundamentals can …
Persistent link: https://www.econbiz.de/10013006979
in a market dictates discrete values at which bids and asks can be tendered by market participants. All transaction …
Persistent link: https://www.econbiz.de/10012927700
In this article I investigate the information flow between credit default swap market and equity market as well as … insider trading on credit default swap market.I apply the event study methodology. By means of the event study methodology I … market to equity market is the most significant with regard to rating's negative perspective. The information flow is much …
Persistent link: https://www.econbiz.de/10013088965
Syndicated loan offerings exhibit U-shaped underpricing. We develop a model of loan underwriting that incorporates the lead bank's loan retention to explain this phenomenon. The bank partially adjusts the offer price for “hot” loans with strong demand, resulting in underpricing to induce...
Persistent link: https://www.econbiz.de/10012852519
We investigate the impact that the publication of the Bank of England's Financial Stability Report (FSR) has on the stock returns and credit default swap spreads of UK financial institutions. Examining a sample of 73 UK-listed banks and other financial institutions, we find that publication of...
Persistent link: https://www.econbiz.de/10012871867