WebDec 1, 2015 · As emphasized by Dow and Gorton (1997) and Chen et al. (2007), stock prices can convey private information possessed by traders on the demand for a firm's products, the firm's investment opportunities, the competitive environment in which it operates, and the implications of the past decisions of the firm's managers. ... Web(Dow and Gorton (1997), Subrahmanyam and Titman (1999)) and monitoring and contracting (Holmstrom and Tiróle (1993), Edmans (2009)), and thus facil-itate value …
CiteSeerX — Stock market efficiency and economic efficiency: Is …
WebGary B. Gorton Lixin Huang Qiang Kang Working Paper 14944 ... Dow and Gorton (1997), Subrahmanyam and Titman (1999), and Dow and Rahi (2003). The theoretical part of … WebApr 18, 2012 · Gorton is from the Wharton School of the University of Pennsylvania and is a research associate at the NBER. We thank seminar participants at Princeton, UCLA, … haul truck operator wages
Individual Investor Trading and Return Patterns around …
WebThakor (1997) and Dow and Gorton (1997) do model the feedback effect fully. But the presence of exogenous liquidity traders in thesemodelsprecludes a complete welfare analysis. In Section II we set out a general model of a security market with agents who trade for informational and hedging motives. Apart from the feedback WebSee also Allen (1993), Dow and Gorton (1997), and Boot and Thakor (1997) for discussions relating to the advantages and disadvantages of bank-dominated versus market … WebFeb 23, 2024 · From The Vault: Gordon wins 1997 Daytona 500. Relive the closing laps of the 1997 Daytona 500, Jeff Gordon's first win in the Great American Race. haul truck images