Security prices and market transparency: the role of prior information

Home | About RECERCAT | Contact

Català | Castellano

All of RECERCAT

By Communities &
Collections By Defense Date By Authors By Titles By Subject

This Collection

By Defense Date By Authors By Titles By Subject

Statistics

View Statistics All RECERCAT

My RECERCAT

Other repositories directory

RECERCAT Home > Universitat Rovira i Virgili > Departament d'Economia > Documents de treball del Departament d'Economia > View document

Use this identifier to quote or link this document: http://hdl.handle.net/2072/1754

dc.contributor	Universitat Rovira i Virgili. Departament d'Economia
dc.contributor.author	Frutos, M. Ángeles de
dc.contributor.author	Manzano, Carolina
dc.date.accessioned	2006-03-31T16:31:40Z
dc.date.available	2006-03-31T16:31:40Z
dc.date.issued	2005
dc.identifier.uri	http://hdl.handle.net/2072/1754
dc.description.sponsorship	Financial support from the Spanish Ministerio de Educación y Ciencia, through projects SEJ2004-01959 and SEJ2004-07477, and the Departament d’Universitats, Recerca i Societat de la Informació de la Generalitat de Catalunya are gratefully acknowledged.
dc.format.extent	2336454 bytes
dc.format.mimetype	application/pdf
dc.language.iso	eng
dc.relation.ispartofseries	Documents de treball del Departament d'Economia;2005-4
dc.rights	Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)
dc.subject	Mercat de capitals
dc.subject	Informació privilegiada
dc.title	Security prices and market transparency: the role of prior information
dc.type	info:eu-repo/semantics/workingPaper
dc.description.abstract	This paper analyzes the role of traders' priors (proper versus improper) on the implications of market transparency by comparing a pre-trade transparent market with an opaque market in a set-up based on Madhavan (1996). We show that prices may be more informative in the opaque market, regardless of how priors are modelled. In contrast, the comparison of market liquidity and volatility in the two market structures are affected by prior specification. Key words: Market microstructure, Transparency, Prior information

Full text files in this document

Files	Size	Format
DT.2005-4-.pdf	2.502 MB	PDF

Show simple item record

All of RECERCAT

This Collection

Statistics

My RECERCAT

Full text files in this document

Related documents

Other documents of the same author