Imperfect competition in financial markets and capital structure
نویسندگان
چکیده
منابع مشابه
Imperfect Competition in Financial Markets: ISLAND vs NASDAQ
The Internet technology reduces the cost of transmitting and exchanging information. ECNs exploit this opportunity to enable investors to place quotes at very little cost and compete with incumbent stock exchanges. Does this quasi–free entry situation lead to competitive liquidity supply? We analyze trades and order book dynamics on Nasdaq and Island. The Nasdaq touch is frequently undercut by ...
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Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank...
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ژورنال
عنوان ژورنال: Journal of Economic Behavior & Organization
سال: 2009
ISSN: 0167-2681
DOI: 10.1016/j.jebo.2009.05.004