Abstract After suggesting that optimizing equity market structure remains a work in progress (as it has for the past five decades), the paper focuses on liquidity provision – a critical determinant of market quality – and its associations with intraday volatility and price discovery....

<title>ABSTRACT</title> The purpose of this study was to present a grounded theory that fills in gaps in the higher education literature on the concept of educational consumer value and perceptions that support consumer value. Specifically, this study focuses on the learning experiences of Baby Boomers (40--60...

Order revelation is a non-trivial process that depends on a market's rules of order handling and order information disclosure. As participants reveal their orders for a stock to a market, the book gets deeper, price is discovered, and trading volume (quantity) is “found.” However, for large...

The concept of beta as the measure of systematic risk has been widely accepted in the academic and financial community. Increasingly, betas are being used to estimate the cost of capital for corporations. Despite this, however, biases are generally present in ordinary least squares (OLS)...

Electronic call auctions are used globally to open and close equity market trading; as such, they are a critically important facility that needs to be better understood. The paper focuses on the impact NASDAQ's calls (introduced in 2004) have had on bid-ask spreads, price volatility, and order...