explain substantial price underreaction to public information in corporate bond and stock markets. The key evidence is that …

futures markets. The empirical evidence suggests that investor sentiment has a positive impact on price volatility and the bid … advantages on the futures market, which diminishes the futures markets' leading informational role and contributions to price … discovery. Our findings provide support for the theory of limits to arbitrage …

This paper reveals that in addition to fundamental factors, the 52-week high price and recent investor sentiment play … an important role in analysts' target price formation. Analysts' forecasts of short-term earnings and long-term earnings … growth are shown to be important explanatory variables for target prices; equally, the 52-week high price and recent investor …

apply risk measurements based on a) market and b) accounting data. We find that price and value co-move from 1983 to 2014 on … co-movement of price and value. However, conditioning on a co-movement of price and value, more conservatism is helpful …

We study price efficiency and trading behavior in laboratory limit order markets with asymmetrically informed traders … insiders present. We observe that price efficiency (i) is the higher the higher the number of insiders in the market but (ii … number ofinsiders, price efficiency increases gradually over time. (iv) The insiders' information is reflected in prices via …

Speeding up the exchange does not necessarily improve liquidity. The price quotes of high-frequency market makers are …