haku: @author Fletcher, R. / yhteensä: 10
viite: 8 / 10
| Tekijä: | Fletcher, R. |
| Otsikko: | The role of information and the time between trades: an empirical investigation |
| Lehti: | Journal of Financial Research
1995 : SUMMER, VOL. 18:2, p. 239-260 |
| Asiasana: | INFORMATION RESEARCH TRADE |
| Kieli: | eng |
| Tiivistelmä: | Previous studies propose that the time between trades is a measure of the existence of information and a manifestation of the demand and supply of liquidity. The author finds evidence that the time between trades is a measure of the existence of information. However, the evidence does not imply that liquidity constraints are an important determinant of price changes. Further investigation indicates that price changes are partially related to liquidity constraints, when the liquidity constraint is measured by the availability of multiple counterparties |
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