This paper examines the ESG rating assigned by two providers, Refinitiv and Bloomberg, to companies listed in Europe and the United States in the period 2010-2020. The objective is twofold. Firstly, we document the path of the ESG ratings over time and the divergence of opinions across...

Non-Fungible Tokens (NTFs) artworks are increasingly traded. In this paper, we first investigate whether the market for crypto-art is informationally efficient and, secondly, if crypto-art can be considered as an alternative to real-world art rather than a haven for crypto-money speculative...

This paper investigates the effects produced by the unbundling of analyst research costs required by MiFID II on market quality, as measured by stock liquidity and price efficiency. We find that the payment of an explicit price for research is associated with a reduction in analyst coverage in...

The proliferation of trading venues has resulted in a fragmented secondary markets landscape both in the US and Europe. Different factors drive the fragmentation of order flow during normal market conditions. This paper studies the composition of order flow during stressed market conditions...