haku: @indexterm Investment banks / yhteensä: 231
viite: 16 / 231
| Tekijä: | Madureira, L. Underwood, S. |
| Otsikko: | Information, sell-side research, and market making |
| Lehti: | Journal of Financial Economics
2008 : NOV, VOL. 90:2, p. 105-126 |
| Asiasana: | investment banks information research selling trading stock markets prices liquidity USA |
| Kieli: | eng |
| Tiivistelmä: | This study explores the impact of research on the liquidity provided by the bank's market maker (henceforth as: m-m/s). Based on a large sample of Nasdaq firms, it is shown that m-m/s. whose banks provide research coverage (herein as: cvrg.) provide more liquidity and contribute more to price discovery than do m-m/s. without such research cvrg. Finally, such "affiliated" m-m/s. are shown to be less affected by uncertainty following earnings announcements. |
SCIMA