Informed trading and the bid-ask spread: evidence from an emerging market

Article Abstract:

Investigation of bid-ask spread in the Czech stock market, focusing on the adverse selection component is studied. The study estimates that only 17 percent of the bid-ask spread are explained by informed trading, which corresponds roughly to share of the adverse-selection component in the developed markets.

Czech Republic, Models, Economic research, Securities trading

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Glamour and value in the land of Chingis Khan

Article Abstract:

Data from the Mongolian privatization program from 1992 to1995 are examined to find evidence that returns to value can be found in Mongolia. In Mongolia, stocks in companies with high book-to-market ratios earned returns far bigger than those with low ratios.

Forecasts, trends, outlooks, Mongolia, Stocks, Forecasts and trends, Market trend/market analysis, Privatization, Privatization (Business)

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Which enterprises (believe they) have soft budgets? Evidence on the effects of ownership and decentralization in Mongolia

Article Abstract:

Research is presented describing the study of soft budgeting in the accounting practices of Mongolian firms which local and central government ownership had a strong influence on the levels of state aid.

Economic aspects, Business budgets, Decentralization in government, Government decentralization

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