Chung, Kee; Chuwonganant, Chairat; McCormick, D. - In: Review of Quantitative Finance and Accounting 27 (2006) 4, pp. 343-364
Although prior studies offer various conjectures on the causes and consequences of order preferencing, there is only limited empirical evidence. In this study, we show that the extent of order preferencing is significantly and negatively related to both the adverse-selection component of the...
