The stealth trading hypothesis (STH) states that informed traders concentrate their trades on medium sizes to conceal their information. Supporting empirical evidence for the NYSE case is considerable. In this paper, we question several methodological aspects of previous studies to provide new insights. We show that the STH cannot be rejected under alternative definitions of the trade-size cuto...

A Steiner triple system of order v, STS(v), may be called equivalent to another STS(v) if one can be converted to the other by a sequence of three simple operations involving Pasch trades with a single negative block. It is conjectured that any two STS(v)s on the same base set are equivalent in this sense. We prove that the equivalence class containing a given system S on a base set V contains ...

In June 2001 the Australian Companies and Securities Advisory Committee issued a Discussion Paper that questions the frequency of insider trading and the need for further regulation. In the spirit of recent capital markets-based research in accounting, we address two questions in this paper. The first is whether and if so how, stock market prices react to information implicit in directors' trad...

The state plays a central position in theoretical debates in International Relations (IR). Both Realists and Liberals see the state as the central actor in the international system and thereby follow a Western understanding of the state as the holder of the monopoly of force. In the IRsub discipline of security studies new categories such as weak state, quasi state or state failure have created...

The authors used an event-contingent daily recording strategy, the Rochester Interaction Record (RIR), to examine the motivational dynamics of interpersonal relations. Using hierarchical linear modeling, the authors demonstrated that social interactions were more pleasant when participants felt autonomous, competent, and related. Autonomy, competence, and relatedness consistently predicted inte...

Recent rhetoric surrounding the contemporary aid relationship between donors and African states is couched in terms of a high level consensus between western and African political leaderships, a central pillar of which is adherence to liberal principles of governance and economic management. The paper argues that an analysis of the nature of this consensus and its prospects requires that we nee...

In thymic epithelial cells, the protein Aire (autoimmune regulator) induces the ectopic expression of hundreds of peripheral tissue antigens, thus enlarging the repertoire of antigens available for the induction of central T cell tolerance. By analyzing Aire's interacting partners, Abramson et al. (2010) shed new light on this unorthodox form of gene expression.

We study the trading of individual investors using transaction data and identifying buyeror seller-initiated trades. We document four results: (1) Small trade order imbalance correlates well with order imbalance based on trades from retail brokers. (2) Individual investors herd. (3) When measured annually, small trade order imbalance forecasts future returns; stocks heavily bought underperform ...

A new operating paradigm is still needed for the power industry in order to achieve a workable deregulated market. The two main proposals, namely the Bilateral and the Poolco models, even though their original intents were to promote efficiency in a deregulated industry, in order to be workable need a powerful centralized organization. They consequently end up operating in the same way as the r...

Using a relationship between the moments of the probability distribution of times between the two consecutive trades (intertrade time distribution) and the moments of the distribution of a daily number of trades we show, that the underlying point process generating times of the trades is an essentially non-markovian long-range memory one. Further evidence for the long-range memory nature of thi...