Does Market Structure Affect the Immediacy of Stock Price Responses to News?

When Are Contrarian Profits Due to Stock Market Overreaction?

1990 • 1,732 citations

Equity issues and offering dilution

1986 • 1,479 citations

Dealer versus auction markets: A paired comparison of execution costs on NASDAQ and the NYSE

1996 • 1,096 citations

Seasoned equity offerings

1986 • 943 citations

Why do NASDAQ Market Makers Avoid Odd‐Eighth Quotes?

1994 • 792 citations

Trading Mechanisms and Stock Returns: An Empirical Investigation

1987 • 780 citations

Transactions costs and investment style: an inter-exchange analysis of institutional equity trades

1997 • 658 citations

Trading Volume and Cross‐Autocorrelations in Stock Returns

2000 • 638 citations

Stock Market Structure and Volatility

1990 • 580 citations

Market Structure and the Intraday Pattern of Bid-Ask Spreads for NASDAQ Securities

1995 • 342 citations

A Specialist's Quoted Depth and the Limit Order Book

1999 • 293 citations

Portfolio return autocorrelation

1993 • 293 citations

Price Discovery in Auction Markets: A Look Inside the Black Box

2000 • 235 citations

An empirical analysis of NYSE specialist trading1We thank Jim Cochrane, Joel Hasbrouck, Don Keim, Kim Shapiro, Jerry Warner, and an anonymous referee for their helpful comments. Seminar participants at the Ohio State Conference on `Dealer Markets', London School of Economics, University of Pennsylvania, and University of Wisconsion provided many helpful suggestions. Minder Cheng, Nicole Parent, and Ed Steffelin provided excellent research support. This research was completed while Madhavan was …

1998 • 233 citations

Price Discovery without Trading: Evidence from the Nasdaq Preopening

2000 • 233 citations

Market Structures and Liquidity: A Transactions Data Study of Exchange Listings

1994 • 220 citations

Stock Price Movements in Response to Stock Issues under Asymmetric Information

1986 • 169 citations

Imperfect Information and Cross‐Autocorrelation among Stock Prices

1993 • 164 citations

The Stock Market Response to Earnings Announcements Released During Trading versus Nontrading Periods

1992 • 129 citations

Information Content and the Speed of Stock Price Adjustment

1985 • 94 citations

Intradaily Price‐Volume Adjustments of NYSE Stocks to Unexpected Earnings

1988 • 85 citations

Regulatory and Legal Pressures and the Costs of Nasdaq Trading

2000 • 68 citations

The importance of firm quotes and rapid executions: Evidence from the January 1994 SOES rules changes

1997 • 68 citations

Valuation effects of commercial bank securities offerings

1989 • 65 citations

Short Selling on the New York Stock Exchange and the Effects of the Uptick Rule

1999 • 61 citations

Post-trade transparency on Nasdaq's national market system1We would like to thank Tom Abbott, Robert Battalio, George Benston, Bill Christie, Larry Fisher, Steve Foerster, Jason Greene, Mike Jensen, Pete Kyle, Paul Laux, Ananth Madhavan, Jean Masson, Junius Peake, Paul Schultz, Paul Seguin, Paul Torregrosa, Dave Whitcomb, as well as seminar participants at the Northern, Southern, and Western Finance Meetings, the Symposium on the Organization of Financial Trade and Exchange Mechanisms, the …

1998 • 58 citations

Global equity markets : technological, competitive, and regulatory challenges

1994 • 53 citations

SOES Trading and Market Volatility

1997 • 42 citations

Overnight and Daytime Stock-Return Dynamites on the London Stock Exchange: The Impacts of “Big Bang” and the 1987 Stock-Market Crash

1995 • 32 citations

Price Continuity Rules and Insider Trading

1995 • 21 citations