Essays on the role of informed trading in stock markets
The first essay, Chapter 3, shows that uninformed investors require a price discount to hold the stock because they perceive a new information uncertainty risk when short-sale constraints are binding and informed trading is absent. Stock prices become less informative when short-sale constraints kee...
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City University London
2009
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| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.522901 |