Matches in SemOpenAlex for { <https://semopenalex.org/work/W2043499557> ?p ?o ?g. }
- W2043499557 abstract "We examine the role of geographically proximate (local) market makers in providing liquidity and improving the quality of a dealer market. Firms with active participation of local dealers enjoy lower quoted and effective spreads, as well as more informative prices. The beneficial effects from local market makers cannot be attributed to their participation in the firm's IPO syndicate or industry specialization, and this local effect is mostly evidenced in firms with information problems such as small firms, non-urban firms and firms with high PIN values. Further, we find that days with aggressive bidding from local market makers relative to their non-local counterparts are associated with significant positive abnormal returns, consistent with local market makers possessing information advantages. In summary, our results suggest that the information advantages of local market makers may be a contributing factor to the reduction in the cost of trading." @default.
- W2043499557 created "2016-06-24" @default.
- W2043499557 creator A5059810332 @default.
- W2043499557 creator A5090300479 @default.
- W2043499557 date "2008-01-01" @default.
- W2043499557 modified "2023-09-22" @default.
- W2043499557 title "Local Market Makers, Liquidity and Market Quality" @default.
- W2043499557 cites W1485872351 @default.
- W2043499557 cites W1508200718 @default.
- W2043499557 cites W1567865852 @default.
- W2043499557 cites W1590007075 @default.
- W2043499557 cites W1964211014 @default.
- W2043499557 cites W1977231896 @default.
- W2043499557 cites W1979161134 @default.
- W2043499557 cites W1979986072 @default.
- W2043499557 cites W1984026280 @default.
- W2043499557 cites W1984743680 @default.
- W2043499557 cites W1988135531 @default.
- W2043499557 cites W1989304249 @default.
- W2043499557 cites W2013283193 @default.
- W2043499557 cites W2024009867 @default.
- W2043499557 cites W2032269423 @default.
- W2043499557 cites W2033096392 @default.
- W2043499557 cites W2035219551 @default.
- W2043499557 cites W2043444939 @default.
- W2043499557 cites W2051348037 @default.
- W2043499557 cites W2053964133 @default.
- W2043499557 cites W2058128666 @default.
- W2043499557 cites W2066284524 @default.
- W2043499557 cites W2078507882 @default.
- W2043499557 cites W2093362178 @default.
- W2043499557 cites W2100746131 @default.
- W2043499557 cites W2101462895 @default.
- W2043499557 cites W2101556903 @default.
- W2043499557 cites W2102130722 @default.
- W2043499557 cites W2104795328 @default.
- W2043499557 cites W2112193723 @default.
- W2043499557 cites W2113359018 @default.
- W2043499557 cites W2116025521 @default.
- W2043499557 cites W2120360426 @default.
- W2043499557 cites W2126873885 @default.
- W2043499557 cites W2143516319 @default.
- W2043499557 cites W2148570548 @default.
- W2043499557 cites W2149625909 @default.
- W2043499557 cites W2152802780 @default.
- W2043499557 cites W2170878868 @default.
- W2043499557 cites W2183223975 @default.
- W2043499557 cites W3023582314 @default.
- W2043499557 cites W3121244928 @default.
- W2043499557 cites W3121462238 @default.
- W2043499557 cites W3122245420 @default.
- W2043499557 cites W3122368406 @default.
- W2043499557 cites W3122531067 @default.
- W2043499557 cites W3122653353 @default.
- W2043499557 cites W3122935004 @default.
- W2043499557 cites W3124447204 @default.
- W2043499557 cites W3124520191 @default.
- W2043499557 cites W3125512896 @default.
- W2043499557 cites W3125598773 @default.
- W2043499557 cites W3125879339 @default.
- W2043499557 cites W3125975290 @default.
- W2043499557 cites W3126064374 @default.
- W2043499557 cites W97480764 @default.
- W2043499557 cites W2013097954 @default.
- W2043499557 doi "https://doi.org/10.2139/ssrn.1102929" @default.
- W2043499557 hasPublicationYear "2008" @default.
- W2043499557 type Work @default.
- W2043499557 sameAs 2043499557 @default.
- W2043499557 citedByCount "0" @default.
- W2043499557 crossrefType "journal-article" @default.
- W2043499557 hasAuthorship W2043499557A5059810332 @default.
- W2043499557 hasAuthorship W2043499557A5090300479 @default.
- W2043499557 hasConcept C10138342 @default.
- W2043499557 hasConcept C111472728 @default.
- W2043499557 hasConcept C138885662 @default.
- W2043499557 hasConcept C144133560 @default.
- W2043499557 hasConcept C162324750 @default.
- W2043499557 hasConcept C162853370 @default.
- W2043499557 hasConcept C183582576 @default.
- W2043499557 hasConcept C195534400 @default.
- W2043499557 hasConcept C2778655473 @default.
- W2043499557 hasConcept C2779530757 @default.
- W2043499557 hasConcept C34447519 @default.
- W2043499557 hasConcept C40700 @default.
- W2043499557 hasConcept C556758197 @default.
- W2043499557 hasConcept C9233905 @default.
- W2043499557 hasConceptScore W2043499557C10138342 @default.
- W2043499557 hasConceptScore W2043499557C111472728 @default.
- W2043499557 hasConceptScore W2043499557C138885662 @default.
- W2043499557 hasConceptScore W2043499557C144133560 @default.
- W2043499557 hasConceptScore W2043499557C162324750 @default.
- W2043499557 hasConceptScore W2043499557C162853370 @default.
- W2043499557 hasConceptScore W2043499557C183582576 @default.
- W2043499557 hasConceptScore W2043499557C195534400 @default.
- W2043499557 hasConceptScore W2043499557C2778655473 @default.
- W2043499557 hasConceptScore W2043499557C2779530757 @default.
- W2043499557 hasConceptScore W2043499557C34447519 @default.
- W2043499557 hasConceptScore W2043499557C40700 @default.
- W2043499557 hasConceptScore W2043499557C556758197 @default.
- W2043499557 hasConceptScore W2043499557C9233905 @default.