Purpose – The purpose of this paper is to present new empirical evidence on global trends in equity‐related transaction costs and trading volume, as well as to highlight recent research in international market microstructure. Design/methodology/approach – Estimates of brokerage...

Information provided by the US Department of Homeland Security regarding potential terrorist attacks significantly affects US Treasury securities markets. When the government announces heightened terror alert levels, investors' perceptions of risk increase and investors purchase 1-month and...

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...

We examine investors’ reactions to announcements of large capital infusions by U.S. financial institutions (FIs) from 2000 to 2009. These infusions include private market infusions (seasoned equity offerings (SEOs)) as well as injections of government capital under the Troubled Asset Relief...

Purpose – The purpose of this paper is to present new empirical evidence on global trends in equity-related transaction costs and trading volume, as well as to highlight recent research in international market microstructure. Design/methodology/approach – Estimates of brokerage commissions,...

I examine the effects of corruption and government control of the banking system for 18 Western hemisphere countries on the sensitivity of commercial lending rates to changes in international financial conditions and find that most countries' lending rates are insensitive to these conditions....