search query: @author Peterson, M. / total: 15
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| Author: | Peterson, M. Sirri, E. |
| Title: | Order submission strategy and the curious case of marketable limit orders |
| Journal: | Journal of Financial and Quantitative Analysis
2002 : JUN, VOL. 37:2, p. 221-241 |
| Index terms: | Investment analysis Capital markets Stock markets Inventory control |
| Language: | eng |
| Abstract: | The authors provide on order submission strategy of investors with similar commitments to trade by comparing the execution costs of market orders and marketable limit orders. The results indicate the unconditional trading costs of marketable limit orders are significantly greater than market orders. The authors attribute the difference in costs to a selection bias and provide evidence suggesting the order submission strategy decision is based on preveiling market conditions and stock characteristics. The results show that average trader chooses the order type wit lower conditional trading costs. |
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