A company's investment opportunities are analogous to options, and options react differently to interest rate changes than other types of assets. We examine growth option sensitivity to inflation-induced changes in interest rates using a binomial model. We find that growth options are generally...

We examine current areas of concern in the regulation of secondary trading markets, including questions concerning market fragmentation, protected orders, minimum tick size, maker-taker pricing models, transparency and dark liquidity, algorithmic and high-frequency trading, the duties and...