haku: @indexterm INFORMATION ECONOMICS / yhteensä: 126
viite: 13 / 126
| Tekijä: | Foucault, T. Röell, A. Sandås, P. |
| Otsikko: | Market making with costly monitoring: an analysis of the SOES controversy |
| Lehti: | Review of Financial Studies
2003 : SUMMER, VOL. 16:2, p. 345-384 |
| Asiasana: | Financial models Stock markets Information economics Trading |
| Kieli: | eng |
| Tiivistelmä: | The authors present a model of information monitoring and market making in a dealership market. They model how intensively dealers monitor public information to avoid being picked off by professional day traders when monitoring is costly. The empirical results support the prediction that professional day traders prefer stocks with small spreads, but offer less support for the prediction that their trading leads to wider spreads. |
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