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Full-Text Articles in Business
Dynamic Double Auctions: An Analysis Of Secondary Sneaker Market And Its Future As An Nft Marketplace, Chris Zhu
Honors Theses
A theoretical analysis of a dynamic double auction over time shows that greater market density can result in more aggressive trading strategies from buyers and sellers. In addition, my model suggests a fast price discovery period initially, with impatient investors having a more aggressive approach. I confirm these results using resale sneaker data from the StockX website for five deadstock sneakers. I find that market density is positively correlated with bid prices, and the bid-ask spread decreases over time during the price discovery period. However, the results also indicate that sellers price in additional transaction costs and lags in their …
‘The Robinhood Effect’ - Digital Technology In Global Financial Markets And Its Effects On Investor Decision Making, Ben Steib
Honors Theses
We are currently experiencing a revolution that is larger, arguably, than the industrial revolution, it’s the Internet, also known as the World Wide Web. The Internet has transformed how we live — how we talk, how we work, how we go about our daily business, and how we manage our finances on a global and individual level. In the late 1990s, an investor would search the World Wide Web and, within seconds, find 3,372 websites with the term "investment,” today, the same search for “investment” yields 1,860,000,000 results. Today, as proven with GameStop and other popular ‘meme stocks,’ social media, …
Market Microstructure And Abnormal Returns: An Analysis Of Nyse And Sgx Securities, Alex Ng
Market Microstructure And Abnormal Returns: An Analysis Of Nyse And Sgx Securities, Alex Ng
Honors Theses
This paper investigates the differences in the abnormal returns of securities in the context of the earnings announcement in both the United States (NYSE) and Singapore (SGX) markets[1]. Despite the similarities between both exchanges, there exist two key market microstructure differences: the free float factor (i.e. the portion of listed share capital that is freely traded on the market) and lot size (i.e. the minimum number of shares that an investor can trade in a single transaction). While the difference in the lot size can be attributed to the intrinsic institutional differences between both exchanges, the involvement of …
Stock Markets And Household Wealth: Can A Stock Market Crash Cause A Recession In The U.S. Economy?, Ishan Singh
Stock Markets And Household Wealth: Can A Stock Market Crash Cause A Recession In The U.S. Economy?, Ishan Singh
Honors Theses
Stock market wealth effects on the level of consumption in the United States economy have been constantly debated; there is evidence for arguments for and against its prominence and its symmetry. This paper seeks to investigate the strength of its negative effect by creating models to analyze unexpected shocks to the Standard and Poor's 500 index. First, a transmission mechanism between the stock market and GDP is established through the use of second-order vector autoregressive models. Following which, theory from the life cycle model and adaptations of previous researchers' models are used to create a structural model. This paper finds …