The Effect of Imperfect Trading on Security Prices
The theme is security pricing in the presence of illiquidity induced by trading and information frictions. Pertinent topics include short-sale constraints, search for counterparties, and other institutional limits on liquid trading, and the effects of these trading imperfections on asset prices, trading volume, and the transmission of information. Relevant work could include the implications for asset pricing of the manner of trading of specific types of investors, such as hedge funds, mutual funds, other institutional investors, and individual investors, as well as how traders adapt to or exploit illiquidity and trading frictions. The focus is microstructure issues per-se, but rather on how such issues affect the levels of securities prices or investment behavior.
|Event dates:||2005-05-13 – 2005-05-14|
|Deadline Call for Papers:||2005-02-04|
|Organizer:||National Bureau of Economic Research|
|Conference venue:||Cambridge, Massachusetts|
|Classification:||G0 - Financial Economics. General|
|Event type:||Konferenzen, Tagungen; Conferences|