[PDF] Top 20 Essays on information asymmetry in financial market

... My paper is also related to recent studies on the institutional investors, such as Basak, Shaprio and Tepla (2006), Basak, Pavlova and Shaprio (2007, 2008), Basak and Makarov (2014), Basak and Pavlova (2013), Dasgupta ... See full document

... Second, the ongoing privatization process, including the listing of state-owned banks, is also an effective channel for enhancing efficiency. As state ownerships stakes shrink, these banks can focus more on for-profit ... See full document

... There are two complementary ways to summarize the information from Euler equation error functions. First, in the second column of table 2.6 , we report the maximum error in our interval (capital between 60 percent ... See full document

... Next, we show that mere possibility of a large (albeit unpredictable) drop in the aggregate output next period decreases interest rates and increases Sharpe ratios in the current period when the irrational optimist is ... See full document

... the financial market can lead to the inefficient contin­ uation o f the project by the shareholder, which in turn leads to m ore pro­ nounced asset price crashes, both in frequency and ... See full document

... frequency financial econometrics proposes a number of methodologies for testing for the presence of jumps in the price ...of financial stocks from emerging markets, it is unclear whether the data ... See full document

... a market is defined as the ratio of the number of applicants who apply to the market to the number of career paths in ...the market is, the lower the acceptance rate is in that ...one market ... See full document

... Reported are quantile regressions in which institutional fund holding changes in a semester t (measured as changes in the portfolio shares) are regressed on a constant and the risk-adjusted excess return (ER) in semester ... See full document

... of information asymmetry that explains the raison d’être of financial intermediaries also explains why financial exclusion ...why financial exclusion exists, and appears to be ... See full document

... the financial market incompleteness, where households can trade only a nominal, non-contingent ...fulfil financial promises is affected by changes in ...of market incompleteness with debt ... See full document

... card market, due the lack of business experience of the card-issuing bank and the rough business model of pure pursuit of card issuance number, or maybe as well as the purposed manual operation on the ... See full document

... US financial market had trillions of dollars in securitized assets scale and the fun- damental asset backed securitization is derived arbitrary, the underlying assets serious distortion, and the ... See full document

... the market makers expect to make losses during negotiations with an informed trader; this is the reason for the wide bid-ask ...the market maker reduces the bid-ask spread. Market makers are ... See full document

... between financial transparency and transaction ...more information, this will reduce the imbalance of orders between informed and uninformed investors and promotes the reduction of inside information ... See full document

... that information asymmetry also exists between the owners and creditors, and within those very groups, ...of information asymmetry has far reaching consequences both on macro and micro ...of ... See full document

... complementing information sharing offices (discussed in the second strand) with ICT (covered in the first strand) can address the concern of market power (raised in the third ...reduce market power ... See full document

... reduce information asymmetry between lenders and borrowers in the banking sector 1 ...of financial access is constrained by factors that can be explained by information asymmetry, ... See full document

... limited financial deepening (with overly reliance on the financial intermediary sector vis-à-vis stock markets which naturally invites more hedging) and low development of the private sector (which is ... See full document

... and market power has been at the centre of economic research and analysis over the past three decades (see Townsend, 1979; Stiglitz & Weiss, 1981; Aghion & Bolton, 1992; Neven & Roller, 1999; Maudo ... See full document

... capital market of the ...capital market of the country and analysis of the interviews carried out to the five main ...effective information asymmetry are the necessary communication between ... See full document