search query: @author Jokivuolle, E. / total: 5
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| Author: | Jokivuolle, E. Lanne, M. |
| Title: | Trading Nokia: the roles of the Helsinki vs. the New York stock exchanges |
| Journal: | Liiketaloudellinen aikakauskirja
2005 : 3, p. 361-374 |
| Index terms: | Stock markets Stock exchanges Trading Companies Case studies USA Nordic countries Finland |
| Language: | eng |
| Abstract: | In this paper, the Autoregressive Conditional Duration (ACD) framework of Engle and Russell (1998) is used to study the effect of trading volume on price duration of a stock listed both in the domestic and in the foreign market. As a case study example is the Nokia's share, actively traded in both of the exchanges in Helsinki (HEX) and in New York (NYSE). Among other results, an asymmetry is found in the volume-price duration relationship btw. the two markets. The results of the paper could be interpreted in that informed investors in Nokia mainly trade in the U.S. market whereas Helsinki is the more liquidity-oriented trading place. |
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