haku: @author Handa, P. / yhteensä: 4
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Tekijä: | Handa, P. Schwartz, R. |
Otsikko: | Dynamic price discovery |
Lehti: | Review of Quantitative Finance and Accounting
1996 : VOL. 7:1, p. 5-28 |
Asiasana: | PRICES RETURN ON INVESTMENT ACCOUNTING |
Kieli: | eng |
Tiivistelmä: | This article analyzes the dynamic process of price discovery in a competitive securities market where investors are equally informed about the fundamental determinants of an asset's end-of-period value but, because they do not know each other's wealth positions, do not know the equilibrium price of shares at the start of a current trading session. Because a large number of participants is assumed, issues concerning market impact and market manipulation are avoided, states the author of this article. |
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