The impact of SEC-required disclosure and insider-trading regulations on the bid/ask spreads in the over-the-counter market

Lev (1988, p. 5) suggests that when accounting regulation reduces asymmetric information, such regulation should reduce the bid/ask spread. His logic is that when security dealers are faced with asymmetric information they will have large bid/ask spreads to protect themselves from losses due to this...

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Veröffentlicht in:	Journal of accounting and public policy 1992-10, Vol.11 (3), p.233-243
Hauptverfasser:	Hagerman, Robert L., Healy, Joanne P.
Format:	Artikel
Sprache:	eng
Schlagworte:	Accounting Asked price Insider dealing Insider trading Over the counter trading Regulation SEC regulations Spread Statistical analysis Stock exchange Studies
Online-Zugang:	Volltext
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