How information is translated into market prices is still an open question. This paper studies the impact of newswire messages on intraday price discovery, liquidity, and trading intensity in an electronic limit order market. We take an objective ex ante measure of the tone of a message to study...

This paper studies the effects of the introduction of the French financial transaction tax in August 2012. With the tax, the French government aims to generate revenues for financing the burdens of the financial crisis and to curb short-term trading. We find that the financial transaction tax...

While prediction markets have become increasingly popular to forecast the near-term future, the literature provides little evidence on how they perform for long-term problems. For assessing the long-term, decision-makers traditionally rely on experts, although empirical research disputes the...

The speed of trading is an important factor in modern security markets. We still know relatively little about the e ffect of speed on liquidity and price discovery, two important aspects of market quality. On April 23rd, 2007, Deutsche Boerse made the most important upgrade to their trading...

Review of the monograph: Pavin Chachavalpongpun (2010), Reinventing Thailand: Thaksin and His Foreign Policy, Silkworm Books, Singapore: Institute of Southeast Asian Studies. ISBN: 978-616-215-000-5, 354 pages

In 1962, the International Court of Justice ruled that the Preah Vihear temple lies within Cambodian territory. The status of the 4.6 km² of land surrounding the temple, however, remained unclear. When UNESCO declared the Preah Vihear temple a Cambodian World Heritage Site in July 2008, the...