The equity markets for smaller issues are characterized by close economic relationships between new issuers and the underwriters who bring the stock public. Underwriters sponsor new issues and often provide liquidity in the secondary market by acting as market makers. This paper analyzes...

Opening mechanisms play a crucial role in information aggregation following the overnight nontrading period. This article examines the process of price discovery at the New York Stock Exchange single-price opening auction. We develop a theoretical model to explain the determinants of the opening...

Purpose: The purpose of this paper is to examine whether internet search intensity, as captured by Google’s search volume index (SVI), predicts house price changes in an emerging market like India. Design/methodology/approach: Using data on Google’s SVI for four Indian cities and their...