000			01499nam a2200241Ia 4500
005			20250605095937.0
008			008 250516s9999 xx 000 0 eng d
020			_a9780197542064
040			_aSDCL _beng _cSDCL
041			_aeng _2eng
084			_aX81:8 R3 _qSDCL
100			_aFoucault, Thierry _9810132
245		0	_aMarket liquidity : _bTheory, evidence, and policy
250			_a2nd ed.
260			_aNew York : _bOxford University Press, _c2023.
300			_axv, 510p.
365			_aUSD _b59.95
520			_aThe 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 ...
650			_aBusiness Economics and Finance _9811816
650			_aRisk Management _9811817
700			_aPagano, MarcoRoell, Ailsa _9810133
942			_cTEXL _2CC _n0
999			_c1430647 _d1430647