Informed trading and the bid-ask spread: evidence from an emerging market

0156101 - NHU-N 20033025 RIV US eng J - Journal Article
Hanousek, Jan - Podpiera, R.
Informed trading and the bid-ask spread: evidence from an emerging market.
Journal of Comparative Economics. Roč. 31, č. 2 (2003), s. 275-296. ISSN 0147-5967. E-ISSN 1095-7227
R&D Projects: GA MŠMT ME 595
Institutional research plan: CEZ:AV0Z7085904
Keywords : market microstructure * bid-ask spread * informed trading
Subject RIV: AH - Economics
Impact factor: 0.746, year: 2003

The bid-ask spread affects significantly the performance of financial markets. We explore the impact of informed trading on the composition of the bid-ask spread in high frequency data from the Czech equity market, which has been plagued by informed trading due to insufficient regulation and missing institutions.
Permanent Link: http://hdl.handle.net/11104/0053568