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ask price of stock
More than 10.000 documents for ask price of stock
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The paper analyzes stock-price reactions to stock recommendations published in printed Swedish media and also trading volumes at and around the publication day, bid/ask spreads, and the post publication drift in recommended stocks for the period 1995 - 2000. Its small size and limited number of actors makes the Swedish stock market an interesting comparison to the U.S. stock markets. The positive publication-day effect for buy recommendations was almost fully reversed after 20 days, supporting the price pressure hypothesis, and the effect for sell recommendations was negative and prices continued to drift down, supporting the information hypothesis. Analysts seem to hand their information to clients before publication, whereas no such information leaking pattern was observed for journal...
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Summary of Application: Applicants request an order that permits: (a) Series of certain actively managed open-end management investment companies to issue shares (``Shares'') redeemable in large aggregations only (``Creation Units''); (b) secondary market transactions in Shares to occur at negotiated market prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of Shares for redemption; and (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of Creation Units.
... defined in section 2(a)(26) of the Act (``Stock Exchange'') upon which its Shares are listed and t...
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Most exchanges do not report trade direction thus researchers and traders must deduce whether a trade is buyer or seller initiated since this information is required to evaluate models of bid-ask spread components and to understand the market for immediacy. Algorithms that assign trade direction based on the proximity to bid or ask quotes are easily implemented but ignore information readily discernable from orders, changes in the quoted depth and subsequent price movements. Using the New York Stock Exchange Trades, Orders and Quotes database, systematic biases in existing trade direction algorithms are documented that can be rectified by recognizing that the impact on liquidity is the fundamental characteristic underlying order placement. Although this liquidity-based method is difficu...
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Introduction. A. Insider Trading Controversy. B. New Argument for Regulating Insider Trading. C. Article's Scope of Analysis. II. Development of the Adverse Selection Model. A. Genesis of the Idea. B. Subsequent Early Research. C. Theoretical Analysis of Adverse Selection in Market Making. D. Further Implications of the Model. E. Alleged Harm to Liquidity and the Significance of Transaction Costs. III. Acceptance and Use of the Adverse Selection Argument. A. Utilization of the Argument in Legal Literature. B. Utilization of the Argument by the SEC and in Litigation. C. Adverse Selection Argument and the Market Making Industry. IV. Inventory and Losses to Market Makers. A. The Nature of Market Makers' Losses. B. Inventory Management by Market Makers and Its Consequences. C. Import...
... trading, firm size, quality of disclosure, stock price volatility, and the bid-ask spread are possi...
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... transaction based on the prevailed market price. If a transaction occurs, the chance to gain profi... research reflected those as in the Jakarta Stock Exchange, in which a pre-opening market was implem...
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..., Inc., investors who purchased the stock of Ask Jeeves, Inc., an online internet research c... "strong buy" recommendations, inflated the price of Ask Jeeves shares while acting under an undiscl...
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... published his book, Insider Trading and the Stock Market, do we find some economic analysis of insid... relies on the informational role of prices in improving capital market efficiency. The second...
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This article examines whether mean reversion in stock index basis changes is actually induced by arbitrage trading, using intra-day arbitrage trade data. The empirical evidence suggests that arbitrage trading alone cannot account for all of the mean reversion in basis changes, even when infrequent trading is controlled for. This general mean reversion is consistent with mean reversion in liquidity and partial adjustment in the cash market. The behavior of arbitrageurs appears highly competitive. We find that on average the net arbitrage profit is at the competitive level of zero. Furthermore, it is suggested that some mispricing persistence may be related to time-varying liquidity. Accordingly, the results indicate that arbitrageurs pay attention to the depth of the market and value the...
... and provide new indirect evidence-based on price data-of arbitrage effectiveness. For example, Yada...
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In Switzerland, the existence of a mandatory minimum par value inhibited many companies from splitting their stocks as they already traded at their minimum par value. These Swiss companies could split their stocks only after the legal minimum par value was lowered in July 1992 and again in May 2001. These two events provide rare opportunities to distinguish between stock splits that signal a permanent increase in stock price and splits that are merely a reaction to a regulatory change and thus have other motives. The significant return differences between the two samples are in line with the hypothesis that splits are a means to send positive signals to the stock market. Furthermore, while trading volumes remained largely unaffected after stock splits, relative tick sizes generally incr...
