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| Tekijä: | Fishe, R. P. H. Robe, M. A. |
| Otsikko: | The impact of illegal insider trading in dealer and specialist markets: evidence from a natural experiment |
| Lehti: | Journal of Financial Economics
2004 : MAR, VOL. 71:3, p. 461-488 |
| Asiasana: | Dealers Insider trading Liquidity |
| Kieli: | eng |
| Tiivistelmä: | Insider trading is examined in specialist and dealer markets by using the trades of stock brokers who had advance copies of a stock analysis column in Business Week magazine. It is found that increases in price and volume occur after informed trades. During informed trading, market makers decrease depth. Depth falls more on the NYSE and Amex than on the Nasdaq. |
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