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| Author: | Naik, N. Neuberger, A. Viswanathan, S. |
| Title: | Trade disclosure regulation in markets with negotiated trades |
| Journal: | Review of Financial Studies
1999 : SPECIAL, VOL. 12:4, p. 873-900 |
| Index terms: | FINANCE DISCLOSURE TRADE |
| Language: | eng |
| Abstract: | In dealership markets disclosure of size and price details of public trades is typically incomplete. The authors examine whether full and prompt disclosure of public-trade details improves the welfare of a risk-averse investor. The authors analyze a model of dealership market where a market maker first executes a public trade and then offsets her position by trading with other market makers. |
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