We estimate the probabilities of informed trading (PIN) for small and large trades and then investigate their determinants. We model a competitive dealership market for equities with two order sizes using a Poisson process mixture model and use TORQ data to estimate the parameters for the model...

To undertake the transfer of industry to promote the industry and its optimization of land use configuration as the research background, a typical provincial boundary region in Chuzhou City of eastern Anhui region was selected as an example from as two perspectives of resource constraint and...

Employment stability is crucial to social harmony and individual well-being. This study empirically analyzes whether the succession plan adopted by a family business can achieve the goal of stable employment and explores potential mechanisms at the individual level of entrepreneurs. This paper...

Food security is one of the main challenges facing humanity, and increasing crop yields is critical to meet the growing global food demand. Grain production in China has remarkably improved since its founding in 1949, but the growth remains uneven across regions. The goal of this research was to...

The value of soil-test information in planning fertilizer application levels is determined by using agricultural field-plot data to estimate the posterior distribution of mean soil-nitrate concentrations at a given location. Optimal decisions concerning fertilizer application levels are made...

I study the liquidity of global stock exchanges and how it determines cross sectional returns on stock portfolios of the exchanges. I measure liquidity by turnover ratio computed as value of shares traded over the market capitalization. I obtain data from FIBV, an association of global stock...

We empirically investigate the role of host (U.S.) and home (Hong Kong) (HK) security market returns as common determinants of security returns for Chinese American Depository Receipts (ADRs) and their underlying H-shares. We also empirically determine the relation between return spread...

We examine the determinants of stock market and bank liquidity in an economy in a SUR framework in which stock market turnover and available bank credit denoting access to long and short term capital respectively are interdependent and the errors are correlated. The SUR results suggest that...

I argue that Eastern and Southern Finance Associations, two prominent US based finance associations should consider combining their annual meetings and hold a joint meeting sometime in February of each year. The meeting has the potential of complementing the very successful fall FMA meetings by...

We use transactions data from TORQ and present empirical evidence on the cross sectional relation between institutional trading and effective spread after controlling for trading volume denoting inventory and order processing costs and probability of informed trading (PIN) denoting risk of...