This paper expands on the existing literature on information asymmetry by testing if herding
exists. We test herd behavior in a transparent and order-driven market using intraday data …

This study investigates (1) whether forecasting firms have lower liquidity prior to the
issuance of a management-earnings forecast than non-forecasting firms and (2) whether …

This paper employs four established market microstructure measures on information-based
trade in financial markets. A set of German mid and small caps is used to analyze potential …

This paper offers empirical evidence about transaction cost in Russia. After relating
empirical measures of information and liquidity to corporate characteristics, competitive …

We examine the trading behaviour of informed traders before and after the removal of broker
identifiers on the Australian Stock Exchange on 28 November 2005. Informed traders have a …