(When) Does transparency hurt liquidity?
Conventional wisdom suggests that increases in public information improve market liquidity. However, if greater public information incentivizes only sophisticated investors to produce private information, it could exacerbate information asymmetry among investors and thus reduce liquidity. We explore...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2020
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soa_research/1844 https://ink.library.smu.edu.sg/context/soa_research/article/2871/viewcontent/SSRN_id3447412.pdf |
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| Institution: | Singapore Management University |
| Language: | English |