Market Liquidity 在线电子书 pdf 下载 txt下载 epub 下载 mobi 下载 2024


Market Liquidity

简体网页||繁体网页
Foucault, Thierry 作者
Oxford University Press
译者
2013-3-25 出版日期
448 页数
USD 53.00 价格
Hardcover
丛书系列
9780199936243 图书编码

Market Liquidity 在线电子书 图书标签: 金融  Finance  经济学  教材  英文  经济  market  经济金融   


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发表于2024-11-08


Market Liquidity 在线电子书 epub 下载 mobi 下载 pdf 下载 txt 下载 2024

Market Liquidity 在线电子书 epub 下载 mobi 下载 pdf 下载 txt 下载 2024

Market Liquidity 在线电子书 pdf 下载 txt下载 epub 下载 mobi 下载 2024



Market Liquidity 在线电子书 用户评价

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越来越不喜欢看这类理论的书了,感觉没有什么指导意义。

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市场微观结构经典教科书

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Limits to Market Efficiency, Foucault老师很棒啊

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市场微观结构经典教科书

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越来越不喜欢看这类理论的书了,感觉没有什么指导意义。

Market Liquidity 在线电子书 著者简介

Thierry Foucault is Professor of Finance, HEC Paris International Business School. Marco Pagano is Professor of Economics, University of Naples Federico II. Ailsa Roell is Professor of International and Public Affairs, Columbia University.


Market Liquidity 在线电子书 图书目录


Market Liquidity 在线电子书 pdf 下载 txt下载 epub 下载 mobi 在线电子书下载

Market Liquidity 在线电子书 图书描述

The way in which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. Market Liquidity offers a more accurate and authoritative take on liquidity and price discovery. The authors start from the assumption that not everyone is present at all times simultaneously on the market, and that even the limited number of participants who are have quite diverse information about the security's fundamentals. As a result, the order flow is a complex mix of information and noise, and a consensus price only emerges gradually over time as the trading process evolves and the participants interpret the actions of other traders. Thus a security's actual transaction price may deviate from its fundamental value, as it would be assessed by a fully informed set of investors. This book takes these deviations seriously, and explains why and how they emerge in the trading process and are eventually eliminated. The authors draw on a vast body of theoretical insights and empirical findings on security price formation that have accumulated in the last thirty years, and have come to form a well-defined field within financial economics known as 'market microstructure.' Focusing on liquidity and price discovery, they analyze the tension between the two, pointing out that when price-relevant information reaches the market through trading pressure rather than through a public announcement, liquidity suffers. The book also confronts many puzzling phenomena in securities markets and uses the analytical tools and empirical methods of market microstructure to understand them. These include issues such as why liquidity changes over time, why large trades move prices up or down, and why these price changes are subsequently reversed, why we see concentration of securities trading, why some traders willingly disclose their intended trades while others hide them, and why we observe temporary deviations from arbitrage prices.

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