I develop a multi-period trading model to analyze how a fundamental trader adjusts his trading strategies and information production decisions to the existence of high frequency trading (HFT). I show that these decisions differ strongly depending on the type of information that the HFT can...

The emergence of new trading platforms has intensified order fragmentation. Yet, little is known on how this phenomenon affects the behavior of profit maximizing exchanges. I show that fragmentation may allow competing exchanges to retain market power. When order splitting is beneficial for...

The emergence of new trading platforms has intensified order fragmentation. Yet, little is known on how this phenomenon affects the behavior of profit maximizing exchanges. I show that fragmentation may allow competing exchanges to retain market power. When order splitting is beneficial for...

Merely out of fear for future liquidity shocks, traders may run on financial markets. We show this coordination failure could be overcome by applying circuit breakers (which curb excessive trading). However, the common-practice circuit breakers fall short of their potential and could even damage...

L'objet de cet article est de spécifier la nature et les contours d'une activité critique dans le champ de la stratégie. Alors que les analyses dites post-rationnelles ou processuelles ont offert des alternatives au courant conventionnel en stratégie, elles ne rendent pas compte de la...

Cet article cherche à déterminer dans quelle mesure et dans quel contexte les administrateurs d’un comité d’audit expriment leurs préférences et leurs points de vue à la direction financière ainsi qu’aux auditeurs inernes et externes, de manière à exercer une influence sur la...

La théorie enracinée a été initialement développée pour proposer une alternative aux méthodes hypothético-déductives, qui formaient le courant majeur de la sociologie des années 1960, en visant à créer de nouvelles connaissances en se fondant sur les pratiques sociales. Face à...

We investigate the link between the regulation of control transactions and the institutional and corporate features of public companies, by analyzing the massive delisting activity in the Romanian capital market. The peculiar ownership reforms involving a large number of listed companies offer a...

Since Richard Laughlin presented his PhD dissertation in 1984, numerous pieces of research have purported to address the linkages between accounting and religion. In 1986, Hoskin and Macve incidentally evoked the Roman Catholic Church as a discoverer of double entry bookkeeping. In 2004 and in...