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Barclay et al., 2004 - Google Patents

Liquidity externalities and adverse selection: Evidence from trading after hours

Barclay et al., 2004

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Document ID
11399576384604274632
Author
Barclay M
Hendershott T
Publication year
Publication venue
The Journal of Finance

External Links

Snippet

This paper examines liquidity externalities by analyzing trading costs after hours. There is less than 1/20 as many trades per unit time after hours as during the trading day. The reduced trading activity results in substantially higher trading costs: quoted and effective …
Continue reading at faculty.haas.berkeley.edu (PDF) (other versions)

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