245 research outputs found
Acknowledgments: We are grateful to Anat Admati, Ugo Albertazzi, Cindy Alexander,
We present a model in which issuers of asset backed securities choose to release coarse information to enhance the liquidity of their primary market, at the cost of reducing secondary market liquidity. The degree of transparency is inefficiently low if the social value of secondary market liquidity exceeds its private value. We show that various types of public intervention – mandatory transparency standards, provision of liquidit
The Economic Consequences of Increased Disclosure: Evidence from International Cross-listings
An Empirical examination of information, differences of opinion, and trading activity
http://deepblue.lib.umich.edu/bitstream/2027.42/35409/2/b1759875.0001.001.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/35409/1/b1759875.0001.001.tx
Tick Size, Spreads, and Liquidity: An Analysis of Nasdaq Securities Trading near Ten Dollars
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