The breakdown of transactions and positions by counterpart sector enriches the information as included in the financial …

This paper aims to investigate market participants' reactions to sequential information, presenting firm-specific news … and market-wide information. Experimental study takes place in the COVID-19 pandemic era, as market-wide information … representation. We also provide firm-specific information in the form of company fundamental information. The results show that …

information with heterogenous hedging motives. We model that an informed buyer (informed trader) sequentially trades with a series …, paradoxically, makes it easier for the informed party to hide her private information and offer opaque prices. (ii) Post-trade price … transparency delays price discovery, but once it happens, it is always perfect. (iii) In contrast, when only past order information …