Zhu, Janchang; Zhang, Leilei; Sun, Xuchu - In: Financial innovation : FIN 10 (2024), pp. 1-33
and the ETC for liquidation, we develop a multistage dynamic programming model including the ETC, and derive recursive … verify that the ETC is able to mitigate extreme price movements caused by fast liquidation, which is also a goal of the ETC … submitted by the investor are unflled, implementation of the ETC encourages the investor to change the liquidation strategy in …