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Stock Trading in Space and Time: Information and Prices around the Globe

Dariusz Wójcik

in The Global Stock Market: Issuers, Investors, and Intermediaries in an Uneven World

Published in print:
2011
Published Online:
September 2011
ISBN:
9780199592180
eISBN:
9780191729089
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199592180.003.0005
Subject:
Business and Management, Finance, Accounting, and Banking

With continued focus on investors, Chapter 5 investigates the circulation of information on secondary stock markets, using the case study of HSBC shares traded on the exchanges in New York, London, ... More


The Clock-Proxy Auction: A Practical Combinatorial Auction Design

Lawrence M. Ausubel, Peter Cramton, and Paul Milgrom

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0006
Subject:
Society and Culture, Technology and Society

This chapter reports on the clock-proxy auction, a hybrid combinatorial auction design in which the process of auction begins with a clock phase and ends with a proxy round to promote efficiency. ... More


Market Liquidity: Theory, Evidence, and Policy

Thierry Foucault, Marco Pagano, and Ailsa Roell

Published in print:
2013
Published Online:
September 2013
ISBN:
9780199936243
eISBN:
9780199333059
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199936243.001.0001
Subject:
Economics and Finance, Financial Economics

The way in which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. This book offers a more ... More


Liquidity, Price Discovery, and Corporate Policies

Thierry Foucault, Marco Pagano, and Ailsa Röell

in Market Liquidity: Theory, Evidence, and Policy

Published in print:
2013
Published Online:
September 2013
ISBN:
9780199936243
eISBN:
9780199333059
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199936243.003.0011
Subject:
Economics and Finance, Financial Economics

This chapter focuses on how liquidity affects real investment decisions and corporate policies. Section 10.2 examines the mechanisms through which liquidity affects firms' investment decisions. ... More


Simultaneous Ascending Auctions

Peter Cramton

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0005
Subject:
Society and Culture, Technology and Society

This chapter describes the simultaneous ascending auction (SAA), along with its extensions. It also discusses the success of this method since it was first developed and adopted for the U.S. Federal ... More


Introduction

Thierry Foucault, Marco Pagano, and Ailsa Röell

in Market Liquidity: Theory, Evidence, and Policy

Published in print:
2013
Published Online:
September 2013
ISBN:
9780199936243
eISBN:
9780199333059
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199936243.003.0001
Subject:
Economics and Finance, Financial Economics

This introductory chapter begins with an overview of what this book is about. It identifies two key concepts in market microstructure—market liquidity and price discovery—and explains why these are ... More


Price Dynamics and Arbitrage

Ananth N. Madhavan

in Exchange-Traded Funds and the New Dynamics of Investing

Published in print:
2016
Published Online:
August 2016
ISBN:
9780190279394
eISBN:
9780190279424
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190279394.003.0003
Subject:
Economics and Finance, Financial Economics

Premiums and discounts in ETFs are a persistent source of questions from policymakers and practitioners because there is no such analogue for an open-ended mutual fund. Specifically, why do ETFs ... More


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