Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 23 for “"Market Makers"”.
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The challenges of attracting market makers to the Malta Stock Exchange
… is to discover the challenges to attracting market makers to the Malta Stock Exchange. This will be done carrying out unstructured interviews with the members of the Malta Stock Exchange. It was discovered that whilst there is relatively strong interest among the members of the stock exchange …
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Three Essays on Quote Stuffing, Dealer Liquidity and Stub Quoting
… referred to as "quote stuffing") has on market conditions. We find that quote stuffing is pervasive with several hundred events occurring each trading day and that over 74% of US exchange traded securities experience at least one episode during 2010. We find that during periods of intense …
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How can Market Making Aid in Developing Financial Markets
… thesis project examines the crucial role that market makers can play in enhancing liquidity and aiding the development of financial markets, with a particular focus on emerging economies. Market making involves providing buy and sell quotes for financial securities, thereby facilitating trading …
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Emotional response modeling in financial markets : Boston Stock Exchange data analysis
… on the physiological responses of professional market makers. The data for this analysis comes from an experiment performed on market makers at the Boston Stock Exchange. This analysis involved significant preprocessing of large financial and physiological data sets. Short-term and long term …
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Essays on Margin Requirements, Endogenous Illiquidity, and Portfolio Choice
… long been implemented in almost all financial markets and are often used as an important regulatory tool for improving market conditions. However, their economic impact beyond affecting default risk is still largely unknown. The first essay proposes a tractable and flexible equilibrium model …
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Applications of stochastic inventory control in market-making and robust supply chains
… stochastic inventory control problems raised in market-making and robust supply chains. In the financial market, market-makers assume the role of a counterpart so that investors can trade any fixed amounts of assets at quoted bid or ask prices at any time. Market-makers benefit from the spread …
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Oligopolistic market-making and inventory heterogeneity
This article examines market making under imperfect competition. A novel dataset on detailed individual-level intraday market-making helps to raise new questions on aspects of liquidity in the environment. The paper suggests a dynamic duopoly market-making model. The general form of the equilibrium …
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Essays in financial economics
… I further investigate the behavior of market makers and find that they act appropriately by increasing price sensitivity before all announcements. This implies that market makers extract timing information from their order books. Chapter 2 is joint work with Li He and professor Andrew …
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Market reactions to changes in the Nasdaq-100 Index membership
We examine stock market reactions around the Nasdaq-100 Index reconstitutions. We find a symmetric and transitory price response accompanied by a significant increase in trading volume on the effective date. Firms added to the Nasdaq-100 Index experience significant increases in institutional …
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Essays in Information Finance
In modern financial markets, participants' ability to access and process information is fundamental to the accurate pricing of assets and to firms' financial decisions. Advances in technologies such as machine learning and artificial intelligence, together with evolving market structures, have …
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Patterns and Determinants of the Intraday Bid-Ask Spread and Depth of CBOE Equity Options
… revisions, volatility of underlying stocks, and market volatility. In addition, this study is the first to incorporate the underlying stock price as a determinant of the option spread. We propose that the underlying stock price is a proxy for the hedging costs incurred by option writers. We also …
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What insight do market participants gain from dividend increases?
This study examines the reactions of market makers and investors to large dividend increases to identify the motives for dividend increases. Uniquely, this study simultaneously tests the signaling and agency abatement motivations as explanations of the impact of dividend increases on stock prices …
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The psychophysiology of risk processing and decision making at a regional stock exchange
… process within the realm of financial markets, where both the environment and decisions-trades-are measurable. In an experiment performed on a regional stock exchange, my collaborators and I record six different types of physiological signals-skin conductance/galvanic skin response …
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Real estate derivatives : products and prospects
… of interviews with leading product developers, market makers, traders and scholars, the paper examines and defines the unique features of the different products and analyzes their value proposition, market conditions and performance. In order to gain an overall perspective on the prospects of …
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Essays in Financial Economics
… using two decades of high-frequency U.S. stock market data. I identify hundreds of thousands of short episodes where stocks exhibit ”explosive” behavior, deviating from the unit-root null hypothesis. These phenomena span multiple days, differ from typical return movements, and affect a wide …
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Order flow and exchange rate dynamics in emerging economies: The case of Ghana
… deals with signed transaction volumes between market-makers and their customers. The study specifically attempts to explore what the data tells us about the role of customer order flow in the market for local currency (Ghanaian CEDI) using the standard analytical framework of FX microstructure …
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ESSAYS ON FINANCIAL MARKETS, NETWORKS, AND TECHNOLOGIES
Global financial markets have been dramatically changing over the last decade. More research is needed to understand the fundamental forces behind this market evolution, and how these forces have reshaped the financial market infrastructure. My dissertation investigates three significant issues at …
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THREE ESSAYS ON NYSE SPECIALIST STRATEGIES
… (NYSE) specialists react to the changes in market variables while making participation decisions to the posted quotes by analyzing specialists' choices to undercut or add depth to the limit order book. We find that the primary factor that affects the participation strategy of the specialists …
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The accuracy of financial analysts and market response
… analysts play an intermediary role in financial markets, resulting in two steps for information to be fully absorbed into the stock price: analysts’ reaction to information, and investors’ reaction to analysts’ recommendations. Thus any observed inefficiency in stock pricing could result from two …
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