Earning announcements and the components of the bid-ask spread

A study investigates the behavior of the components of the bid-ask spread around earnings announcements. It is found that the adverse selection cost component significantly increases surrounding the announcements, while the inventory holding and order processing components significantly decline duri...

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Veröffentlicht in:	The Journal of finance (New York) 1996-09, Vol.51 (4), p.1523
Hauptverfasser:	Krinsky, Itzhak, Lee, Jason
Format:	Artikel
Sprache:	eng
Schlagworte:	Adverse selection Asymmetry Bid price Bids Costs Earnings Earnings trends Economic impact Hypotheses Order processing Securities analysis Studies
Online-Zugang:	Volltext
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