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dc.contributor.authorHalling, Michael
dc.contributor.authorMoulton, Pamela
dc.contributor.authorPanayides, Marios
dc.date.accessioned2020-09-12T21:03:19Z
dc.date.available2020-09-12T21:03:19Z
dc.date.issued2011-10-13
dc.identifier.other4733954
dc.identifier.urihttps://hdl.handle.net/1813/71539
dc.description.abstractThe trading of shares of the same firm in multiple markets has become common over the last thirty years, but there is little empirical evidence on the extent to which investors actively exploit multimarket environments. We introduce a volume-based measure of multimarket trading to address this question. Analyzing a large set of cross-listed firms, we find higher multimarket trading among markets with similar designs and strong enforcement of insider trading laws and for firms with higher institutional ownership. These findings are important for firms evaluating the benefits of cross-listing and for markets competing for order flow.
dc.language.isoen_US
dc.rightsRequired Publisher Statement: © Cambridge University Press. Final version published as: Halling, M., Moulton, P. C, & Panayides, M. (2013). Volume dynamics and multimarket trading? Journal of Financial & Quantitative Analysis, 48(2), 489-518. Reprinted with permission. All rights reserved.
dc.subjectmultimarket trading
dc.subjectcross-listing
dc.subjecttrading volume
dc.subjectintegration
dc.titleVolume Dynamics and Multimarket Trading
dc.typearticle
dc.relation.doihttps://doi.org/10.1017/S0022109013000094
dc.description.legacydownloadsMoulton1_Volume_Dynamics.pdf: 337 downloads, before Aug. 1, 2020.
local.authorAffiliationHalling, Michael: University of Utah
local.authorAffiliationMoulton, Pamela: pm388@cornell.edu Cornell University School of Hotel Administration
local.authorAffiliationPanayides, Marios: University of Pittsburgh


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