Fast and slow informed trading
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DOI: 10.1016/j.finmar.2019.02.003
Abstract: Abstract I develop a model in which traders receive a stream of private signals, and differ in their information processing speed. In equilibrium, the fast traders (FTs) quickly reveal a large fraction of their information.… read more here.
Keywords: fast slow; information; slow informed; informed trading ... See more keywords
Round-number biases and informed trading in global markets
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DOI: 10.1016/j.jbusres.2018.07.027
Abstract: This paper investigates whether informed trading matters to round-number biases. We document the global presence of round-number biases by showing excessive buying (selling) pressure immediately below (above) a rounded threshold. Additionally, we demonstrate that trades… read more here.
Keywords: number biases; round number; global markets; informed trading ... See more keywords
How does the informed trading impact Bitcoin returns and volatility?
Sign Up to like & getrecommendations! Published in 2020 at "Applied Economics"
DOI: 10.1080/00036846.2020.1814944
Abstract: ABSTRACT This study employed an augmented AR-GJRGARCH model that incorporates an intraday-based buy-sell order size imbalance measure to explore how informed trading behaviour/activity impacted Bitcoin returns and volatility from January 2014 to February 2019. Our… read more here.
Keywords: trading behaviour; returns volatility; bitcoin returns; informed trading ... See more keywords
Informed trading by non-financial companies
Sign Up to like & getrecommendations! Published in 2019 at "Applied Economics Letters"
DOI: 10.1080/13504851.2019.1613489
Abstract: ABSTRACT It is well documented in the finance literature how share prices go up when companies increase dividend payouts. The long-term trend, however, is that more companies now retain excess cash rather than paying dividends.… read more here.
Keywords: non financial; trading non; financial companies; companies retain ... See more keywords
Informed Trading by Advisor Banks: Evidence from Options Holdings
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DOI: 10.1093/rfs/hhy072
Abstract: Strong conflicts of interest exist within investment banks: the investment banking division possesses substantial private information, and the asset management division seeks such information. This raises the question of whether the asset management division benefits… read more here.
Keywords: trading; advisor banks; evidence; informed trading ... See more keywords
Voluntary Disclosure and Informed Trading*
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DOI: 10.1111/1911-3846.12600
Abstract: This study analyzes the impact of informed trading on voluntary corporate disclosure in the presence of two factors: the cost of disclosure and the value of a manager's informedness. In the absence of both factors,… read more here.
Keywords: information; informed trading; disclosure; divulgation ... See more keywords
Political connections and informed trading: Evidence from TARP
Sign Up to like & getrecommendations! Published in 2019 at "Financial Management"
DOI: 10.1111/fima.12292
Abstract: Christian Fons‐Rosen acknowledges financial support by the Spanish Ministry of Economy and Competitiveness (ECO2014–55555–P).Jose‐Luis Peydro acknowledges financial support from both ECO2015‐68182‐P (MINECO/FEDER, UE) and the European Research Council Grant (project 648398). read more here.
Keywords: political connections; trading evidence; informed trading; evidence tarp ... See more keywords