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[CITATION] Market microstructure theory

M O'hara - 2007 - Blackwell
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Price, trade size, and information in securities markets

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D Easley… - Journal of Financial economics, 1987 - Elsevier
Abstract This paper investigates the effect of trade size on security prices. We show that
trade size introduces an adverse selection problem into security trading because, given that
they wish to trade, informed traders perfer to trade larger amounts at any given price. As a ...
Cited by 1504 - Related articles - All 15 versions

Information and the cost of capital

[PDF] from ox.ac.uk
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D Easley… - The journal of finance, 2004 - Wiley Online Library
We investigate the role of information in affecting a firm's cost of capital. We show that
differences in the composition of information between public and private information affect
the cost of capital, with investors demanding a higher return to hold stocks with greater ...
Cited by 1103 - Related articles - BL Direct - All 36 versions

Is information risk a determinant of asset returns?

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D Easley, S Hvidkjaer… - The Journal of Finance, 2002 - Wiley Online Library
We investigate the role of information–based trading in affecting asset returns. We show in a
rational expectation example how private information affects equilibrium asset returns. Using
a market microstructure model, we derive a measure of the probability of information– ...
Cited by 969 - Related articles - BL Direct - All 33 versions

Time and the process of security price adjustment

D Easley… - Journal of Finance, 1992 - JSTOR
This paper delineates the link between the existence of information, the timing of trades, and
the stochastic process of prices. We show that time affects prices, with the time between
trades affecting spreads. Because the absence of trades is correlated with volume, our ...
Cited by 934 - Related articles - Get it from MIT Libraries - All 7 versions

Liquidity, information, and infrequently traded stocks

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D Easley, NM Kiefer, M O'hara… - Journal of Finance, 1996 - JSTOR
This article investigates whether differences in information-based trading can explain
observed differences in spreads for active and infrequently traded stocks. Using a new
empirical technique, we estimate the risk of information-based trading for a sample of New ...
Cited by 857 - Related articles - Get it from MIT Libraries - Library Search - BL Direct - All 10 versions

Market statistics and technical analysis: The role of volume

[PDF] from technicalanalysis.org.uk
L Blume, D Easley… - Journal of Finance, 1994 - JSTOR
We investigate the informational role of volume and its applicability for technical analysis.
We develop a new equilibrium model in which aggregate supply is fixed and traders receive
signals with differing quality. We show that volume provides information on information ...
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One day in the life of a very common stock

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D Easley, NM Kiefer… - Review of Financial …, 1997 - Soc Financial Studies
Abstract Using the model structure of Easley and O'Hara (Journal of Finance, 47, 577-604),
we demonstrate how the parameters of the market-maker's beliefs can be estimated from
trade data. We show how to extract information from both trade and no-trade intervals, and ...
Cited by 480 - Related articles - Library Search - BL Direct - All 13 versions

Option volume and stock prices: Evidence on where informed traders trade

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D Easley, M O'hara… - The Journal of Finance, 1998 - Wiley Online Library
This paper investigates the informational role of transactions volume in options markets. We
develop an asymmetric information model in which informed traders may trade in option or
equity markets. We show conditions under which informed traders trade options, and we ...
Cited by 473 - Related articles - Library Search - BL Direct - All 12 versions

Presidential address: Liquidity and price discovery

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M O'hara - The Journal of Finance, 2003 - Wiley Online Library
Abstract This paper examines the implications of market microstructure for asset pricing. I
argue that asset pricing ignores the central fact that asset prices evolve in markets. Markets
provide liquidity and price discovery, and I argue that asset pricing models need to be ...
Cited by 389 - Related articles - BL Direct - All 18 versions

When the underwriter is the market maker: An examination of trading in the IPO aftermarket

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K Ellis, R Michaely… - The Journal of Finance, 2000 - Wiley Online Library
This paper examines aftermarket trading of underwriters and unaffiliated market makers in
the three-month period after an IPO. We find that the lead underwriter is always the dominant
market maker; he takes substantial inventory positions in the aftermarket trading, and co- ...
Cited by 392 - Related articles - BL Direct - All 20 versions

Cream-skimming or profit-sharing? The curious role of purchased order flow

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D Easley, NM Kiefer… - Journal of Finance, 1996 - JSTOR
Purchased order flow refers to the practice of dealers or trading locales paying brokers for
retail order flow. It is alleged that such agreements are used to" cream skim" uninformed
liquidity trades, leaving the information-based trades to established markets. We develop ...
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High frequency data in financial markets: Issues and applications

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CAE Goodhart… - Journal of Empirical Finance, 1997 - Elsevier
The development of high frequency data bases allows for empirical investigations of a wide
range of issues in the financial markets. In this paper, we set out some of the many important
issues connected with the use, analysis, and application of high-frequency data sets. ...
Cited by 329 - Related articles - All 8 versions

The corporate governance of banks

J Macey… - Economic Policy Review, Vol. 9, No. 1, April …, 2003 - papers.ssrn.com
Abstract: The study argues that commercial banks pose unique corporate governance
problems for managers and regulators, as well as for claimants on the banks' cash flows,
such as investors and depositors. The authors support the general principle that fiduciary ...
Cited by 324 - Related articles - All 9 versions

The information content of the trading process

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D Easley, NM Kiefer… - Journal of Empirical Finance, 1997 - Elsevier
The trade process is a stochastic process of transactions interspersed with periods of
inactivity. The realizations of this process are a source of information to market participants.
They cause prices to move as they affect the market maker's beliefs about the value of the ...
Cited by 269 - Related articles - All 4 versions

The accuracy of trade classification rules: Evidence from Nasdaq

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K Ellis, R Michaely… - Journal of Financial and …, 2000 - Cambridge Univ Press
Abstract Researchers are increasingly using data from the Nasdaq market to examine
pricing behavior, market design, and other microstructure phenomena. The validity of any
study that classifies trades as buys or sells depends on the accuracy of the classification ...
Cited by 259 - Related articles - BL Direct - All 11 versions

Market transparency: Who wins and who loses?

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R Bloomfield… - Review of Financial Studies, 1999 - Soc Financial Studies
Abstract This study uses laboratory experiments to determine the effects of trade and quote
disclosure on market efficiency, bid-ask spreads, and trader welfare. We show that trade
disclosure increases the informational efficiency of transaction prices, but also increases ...
Cited by 257 - Related articles - BL Direct - All 13 versions

The microeconomics of market making

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M O'hara… - Journal of Financial and Quantitative …, 1986 - Cambridge Univ Press
Abstract This paper examines the influence of risk aversion on the pricing policies of a
market maker for securities. It is shown that a market maker's bid-ask spread can be
decomposed into a portion for the known limit orders, a risk-neutral adjustment for ...
Cited by 256 - Related articles - All 5 versions

Deposit Insurance and Wealth Effects: The Value of Being" Too Big to Fail"

M O'hara… - Journal of Finance, 1990 - JSTOR
This paper investigates the effect on bank equity values of the Comptroller of the Currency's
announcement that some banks were" too big to fail" and that for those banks total deposit
insurance would be provided. Using an event study methodology, we find positive wealth ...
Cited by 258 - Related articles - Get it from MIT Libraries - All 6 versions

The “make or take” decision in an electronic market: Evidence on the evolution of liquidity

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R Bloomfield, M O'Hara… - Journal of Financial Economics, 2005 - Elsevier
This paper uses experimental asset markets to investigate the evolution of liquidity in an
electronic limit order market. Our market setting includes salient features of electronic limit
order markets, as well as informed traders and liquidity traders. We focus on the strategies ...
Cited by 233 - Related articles - Library Search - BL Direct - All 33 versions

Financial analysts and information-based trade

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D Easley, M O'Hara… - Journal of Financial Markets, 1998 - Elsevier
In this research, we investigate the informational role of financial analysts. Using a trade-
based empirical technique, we estimate the probability of information-based trading for a
sample of NYSE stocks that differ in analyst coverage. We determine how this probability ...
Cited by 216 - Related articles - All 6 versions

[BOOK] Empathy reconsidered: New directions in psychotherapy.

M O'Hara - 1997 - psycnet.apa.org
Abstract 1. contribute to the fast-growing discussion of the limits of the indigenous
psychology of the Western world in addressing the relational needs of its members/examine
the limits of modernist individualism as a paradigm for understanding human experience ...
Cited by 195 - Related articles - Get it from MIT Libraries - Library Search - All 4 versions

The economic role of the nonprofit firm

D Easley… - The Bell Journal of Economics, 1983 - JSTOR
This article demonstrates that the partitioning of economic activity into for-profit and nonprofit
organizations can be at least partially described as the solution to an optimal contracting
problem. We show that nonprofit firms may be superior to for-profit firms if the output ...
Cited by 181 - Related articles - Get it from MIT Libraries - Library Search - All 11 versions

Empirically violated treatments: Disenfranchisement of humanistic and other psychotherapies

A Bohart, M O'Hara… - Psychotherapy Research, 1998 - Taylor & Francis
It is argued that the criteria for “empirically validated treatments” are restrictive and
scientifically unjustified, could disenfranchise therapies which do not share the Division 12
task force's assumptions about the nature of psychotherapy, and will stifle psychological ...
Cited by 182 - Related articles - BL Direct - All 5 versions

How stock splits affect trading: A microstructure approach

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D Easley, M O'hara… - Journal of Financial and …, 2001 - Cambridge Univ Press
Abstract Extending an empirical technique developed in Easley, Kiefer, and O'Hara
(1996),(1997a), we examine different hypotheses about stock splits. In line with the trading
range hypothesis, we find that stock splits attract uninformed traders. However, we also ...
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Can transparent markets survive?

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R Bloomfield… - Journal of Financial Economics, 2000 - Elsevier
This paper investigates whether transparent markets can survive when faced with direct
competition from less transparent markets. We first construct a game-theoretic model in
which in equilibrium the low-transparency dealers capture early order flow, and use the ...
Cited by 154 - Related articles - All 9 versions

The law and economics of best execution

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JR Macey… - Journal of Financial Intermediation, 1997 - Elsevier
This paper reviews and analyzes the legal and economic aspects of the duty of best
execution. Although a well-established principle of securities trading, we show that the dual
problems of definition and enforcement make best execution both unwieldy and ...
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Factoring information into returns

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D Easley, S Hvidkjaer… - Journal of Financial and …, 2010 - Cambridge Univ Press
Abstract We examine the potential profits of trading on a measure of private information
(PIN) in a stock. A zero-investment portfolio which is size neutral, but long in high PIN stocks
and short in low PIN stocks earns a significant abnormal return. The Fama-French, ...
Cited by 130 - Related articles - All 30 versions

Time-varying arrival rates of informed and uninformed trades

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D Easley, RF Engle, M O'hara… - Journal of Financial …, 2008 - Oxford Univ Press
Abstract We propose a dynamic econometric microstructure model of trading, and we
investigate how the dynamics of trades and trade composition interact with the evolution of
market liquidity, market depth, and order flow. We estimate a bivariate generalized ...
Cited by 132 - Related articles - BL Direct - All 23 versions

Property rights and the financial firm

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M O'Hara - Journal of Law and Economics, 1981 - JSTOR
THAT the behavior of a firm may depend on the structure of property and contracting rights
within it has elicited a great deal of interest.'If property rights affect firm operations, it is
particularly important to recognize these effects in regulated firms. This study ...
Cited by 123 - Related articles - All 7 versions

Adverse selection and large trade volume: The implications for market efficiency

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D Easley… - Journal of Financial and Quantitative …, 1992 - Cambridge Univ Press
Abstract This paper examines the adverse selection problem that arises from the repeated
trades of informed traders. We develop a model of trading that incorporates the interaction of
expectations, prices, and volume. We then examine how trading volume affects the speed ...
Cited by 99 - Related articles - All 8 versions

The making of a dealer market: From entry to equilibrium in the trading of Nasdaq stocks

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K Ellis, R Michaely… - The Journal of Finance, 2002 - Wiley Online Library
This paper provides an analysis of the nature and evolution of a dealer market for Nasdaq
stocks. Despite size differences in sample stocks, there is a surprising consistency to their
trading. One dealer tends to dominate trading in a stock. Markets are concentrated and ...
Cited by 82 - Related articles - BL Direct - All 11 versions

Regulating exchanges and alternative trading systems: A law and economics perspective

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JR Macey… - J. Legal Stud., 1999 - HeinOnline
Abstract New trading technologies are transforming securities markets, and with their rise
have come important questions regarding the regulation of new and traditional trading
mechanisms. This article provides a law and economics perspective on the regulation of ...
Cited by 83 - Related articles - Library Search - BL Direct - All 15 versions

Building blocks* 1:: An introduction to block trading

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K Burdett… - Journal of Banking & Finance, 1987 - Elsevier
Abstract This paper analyzes the economic role and behavior of the block trader. In the
context of a sequential decision model we determine the block trader's optimal strategy for
building a syndicate of buyers and sellers. We show the conditions under which the block ...
Cited by 80 - Related articles - All 5 versions

Order form and information in securities markets

D Easley… - Journal of Finance, 1991 - JSTOR
This paper examines the effects of price-contingent orders on security prices. We show that
a market maker who knows the type and composition of trades will set larger spreads and
adjust prices faster than if price-contingent orders were not allowed. Because traders have ...
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Down and out in the stock market: The law and economics of the delisting process

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J Macey, M O'Hara… - Journal of Law and Economics, 2008 - JSTOR
Abstract Since 1995, more than 9,000 firms have delisted from US stock markets, with almost
half of these being involuntary. This paper examines the law and economics of the delisting
process. We examine economic rationales for delisting, the legal rules that define it, and ...
Cited by 72 - Related articles - All 7 versions

Does order preferencing matter?

[PDF] from 112.78.41.54
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R Bloomfield… - Journal of Financial Economics, 1998 - Elsevier
This study examines how order preferencing affects the competitiveness and efficiency of
laboratory financial markets. We operationalize preferencing by allowing some dealers to
execute a portion of the order flow by matching the most favorable quotes available. ...
Cited by 67 - Related articles - All 12 versions

Characterization of optimal plans for stochastic dynamic programs

[PDF] from umich.edu
L Blume, D Easley… - Journal of Economic Theory, 1982 - Elsevier
Abstract This paper provides general techniques for the characterization of optimal plans
resulting from stochastic dynamic programming. We show that under standard assumptions
the optimal plans in both finite and infinite horizon problems can be obtained by an ...
Cited by 64 - Related articles - Get it from MIT Libraries - All 9 versions

Primes and scores: An essay on market imperfections

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RA Jarrow… - Journal of Finance, 1989 - JSTOR
This paper investigates the reported relative mispricing of primes and scores to the
underlying stock. Given transaction costs, we establish arbitrage-based bounds on prime
and score prices. We then develop a new nonparametric statistical technique to test ...
Cited by 61 - Related articles - Get it from MIT Libraries - All 6 versions

Ambiguity and nonparticipation: the role of regulation

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D Easley… - Review of Financial Studies, 2009 - Soc Financial Studies
Abstract We investigate the implications of ambiguity aversion for performance and
regulation of markets. In our model, agents' decision making may incorporate both risk and
ambiguity, and we demonstrate that nonparticipation arises from the rational decision by ...
Cited by 59 - Related articles - All 12 versions

The economics of stock exchange listing fees and listing requirements

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JR Macey… - Journal of Financial Intermediation, 2002 - Elsevier
This paper investigates the once and future role of listing fees. We consider the theory of
listing fees and why such a pricing structure initially evolved. We show how capital market
developments have changed the desirability, and even viability, of this pricing structure. ...
Cited by 56 - Related articles - BL Direct - All 8 versions

Real bills revisited: Market value accounting and loan maturity

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M O'Hara - Journal of Financial Intermediation, 1993 - ingentaconnect.com
Abstract: This paper analyzes the effects of market value accounting (MVA) on loan maturity.
I show that in the presence of asymmetric information MVA introduces a bias into asset
valuation against longer-term illiquid assets. This bias increases interest rates for long- ...
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How noise trading affects markets: An experimental analysis

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R Bloomfield, M O'Hara… - Review of Financial …, 2009 - Soc Financial Studies
Abstract We use a laboratory market to investigate the behavior of traders who lack
informational advantages and have no exogenous reason to trade. We find that these
uninformed traders behave largely as irrational contrarian “noise traders,” trading against ...
Cited by 50 - Related articles - All 14 versions

Firm characteristics and informed trading: Implications for asset pricing

[PDF] from tinbergen.nl
H Aslan, D Easley, S Hvidkjaer… - Unpublished Working …, 2007 - papers.ssrn.com
Abstract: This paper investigates the linkage of microstructure, accounting, and asset pricing.
We determine the relationship between firm characteristics as captured by accounting and
market data and a firm's probability of private information-based trade (PIN) as estimated ...
Cited by 44 - Related articles - All 13 versions

Liquidity and valuation in an uncertain world

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D Easley… - Journal of Financial Economics, 2010 - Elsevier
During the 2007–2009 financial crisis there was little or no trading in a variety of financial
assets, even though bid and ask prices existed for many of these assets. We develop a
model in which this illiquidity arises from uncertainty, and we argue that this new form of ...
Cited by 43 - Related articles - All 22 versions

From markets to venues: securities regulation in an evolving world

[PDF] from yale.edu
JR Macey… - Stan. L. Rev., 2005 - HeinOnline
The world of securities trading is changing. Advances in technology, combined with the
dramatic decrease in the cost of information processing, have conspired to change the way
that securities transactions occur. While broker-dealers, specialists, and market makers ...
Cited by 44 - Related articles - BL Direct - All 12 versions

Microstructure and asset pricing

[DOC] from northwestern.edu
D Easley… - Handbook of the Economics of Finance, 2003 - Elsevier
Abstract Market microstructure and asset pricing both consider the behavior and formation of
prices in asset markets. Yet neither literature explicitly recognizes the importance and role of
the factors so crucial to the other approach. This survey seeks to join the two literatures by ...
Cited by 39 - Related articles - All 8 versions

[CITATION] Optimal nonprofit firms

D Easley, M O'Hara - The …, 1986 - Oxford University Press: Oxford, UK
Cited by 39 - Related articles

A dynamic theory of the banking firm

M O'Hara - Journal of Finance, 1983 - JSTOR
Dynamic analysis has greatly increased our understanding of the microfoundations of the
general firm. Unfortunately, however, little attention has been focussed on the dynamic
nature of the banking firm. Instead, most theoretical work has derived the optimal behavior ...
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Is market fragmentation harming market quality?

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M O'Hara… - Journal of Financial Economics, 2011 - Elsevier
We examine how fragmentation is affecting market quality in US equity markets. We use
newly available trade reporting facilities (TRFs) data to measure fragmentation, and we use
a variety of empirical approaches to compare execution quality and efficiency of stocks ...
Cited by 45 - Related articles - Get it from MIT Libraries - All 11 versions

Making market microstructure matter

M O'Hara - Financial Management, 1999 - JSTOR
Market microstructure research has provided important insights into the operation and
behavior of securities markets and into the intra-day behavior of asset prices. What has not
yet been established is how market microstructure affects economic behavior more ...
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[PDF] Relational empathy: Beyond modernist egocentricism to postmodern holistic contextualism

[PDF] from ohara.net
M O'Hara - Empathy reconsidered: New directions in …, 1997 - maureen.ohara.net
Abstract Considering empathy as both construct and human activity, the chapter contributes
to the fast-growing discussion of the limits of the indigenous psychology of the Western
world in addressing the relational needs of its members. In particular it examines the limits ...
Cited by 34 - Related articles - View as HTML - All 3 versions

[CITATION] Taking stock in stock markets: The changing governance of exchanges

A Mendiola… - Unpublished paper, 2003
Cited by 31 - Related articles - All 2 versions

Commodity bonds and consumption risks

M O'Hara - Journal of Finance, 1984 - JSTOR
This paper analyzes the economic role of commodity bonds by examining the nature of the
demand for these securities. I show that while commodity bonds protect against relative
price changes, they do so by introducing variability into the future real income stream. This ...
Cited by 29 - Related articles - Get it from MIT Libraries - Library Search - All 4 versions

[BOOK] A guide to the initial public offering process

[PDF] from psu.edu
K Ellis, R Michaely… - 1999 - Citeseer
1 The power of Congress to enact legislation regulating securities transactions is based in
the Commerce Clause of the constitution. The Commerce Clause which is contained in
Article I, Section 8 of the constitution gives Congress the power “to regulate commerce… ...
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Home-based developmental screening of children in foster care.

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MT O'Hara, CC Church… - Pediatric Nursing, 1998 - ncbi.nlm.nih.gov
1. Pediatr Nurs. 1998 Mar-Apr;24(2):113-7. Home-based developmental screening of
children in foster care. O'Hara MT, Church CC, Blatt SD. Department of Pediatrics, State
University of New York Health Science Center, Syracuse, USA. ...
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The microstructure of the 'Flash Crash': Flow toxicity, liquidity crashes and the probability of informed trading

[PDF] from uic.edu
D Easley, M López de Prado… - 2010 - papers.ssrn.com
Abstract: The 'flash crash'of May 6th 2010 was the second largest point swing (1,010.14
points) and the biggest one-day point decline (998.5 points) in the history of the Dow Jones
Industrial Average. For a few minutes, $1 trillion in market value vanished. In this paper, ...
Cited by 30 - Related articles - All 6 versions

[PDF] Regulation and return: The role of ambiguity

[PDF] from upf.edu
D Easley… - Johnson GSM, Cornell University, working …, 2005 - econ.upf.edu
Abstract In this paper we examine the role of regulation of financial markets in an economy
with both expected utility maximizing and ambiguity averse traders. Both types of traders are
rational, but ambiguity averse traders do not have enough information about asset ...
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Carl Rogers: scientist and mystic

M O'Hara - Journal of Humanistic Psychology, 1995 - jhp.sagepub.com
Abstract Carl Ransome Rogers, one of the giants of 20th-century psychology, has been
recognized for his immense contribution to the science of psychology. At the same time,
millions have found his person-centered philosophy to be a deeply satisfying moral ...
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Microstructure and ambiguity

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D Easley… - The Journal of Finance, 2010 - Wiley Online Library
A goal for stock exchanges is to increase participation by firms and investors. We show how
specific features of the microstructure can reduce perceived ambiguity, and induce
participation by both investors and issuers. We develop a model with sophisticated traders ...
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[CITATION] Child deaths in contexts of domestic violence: Implications for professional practice

M O'Hara - 1994) Children Living With Domestic Violence, Whiting …, 1994
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Strangers in a strange land: Knowing, learning and education for the global knowledge society

Full text - MIT Libraries
M O'Hara - Futures, 2007 - Elsevier
Profound changes to established patterns of life, root metaphors, necessary expertise and
habits of mind are occurring as a consequence of globalization, information and
communications technologies and the shift to a knowledge society. There is now a ...
Cited by 23 - Related articles

Person-Centered Approach as Conscientizacao

M O'Hara - Journal of Humanistic Psychology, 1989 - jhp.sagepub.com
Abstract In Carl Rogers on Personal Power (1977), Rogers devotes almost a whole chapter
to what he sees as remarkable similarities between" person-centered approaches" and the
pedagogical strategies of Brazilian educator, Paulo Freire. During the last 13 years I have ...
Cited by 23 - Related articles - All 2 versions

[PDF] Overview: market structure issues in market liquidity

[PDF] from bis.org
M O'Hara - Market Liquidity, 2001 - bis.org
The behaviour of prices and even the viability of markets depend on the ability of the trading
mechanism to match the trading desires of sellers and buyers. This matching process
involves the provision of market liquidity. The role of the market maker in providing ...
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Helping Law Catch Up to Markets: Applying Broker-Dealer Law to Subprime Mortgages

[PDF] from yale.edu
J Macey, G Miller, M O'Hara… - … Vol. 33, 2009, Yale Law & …, 2009 - papers.ssrn.com
Abstract: Much of the blame for the current financial crisis is attributable to problems in the
subprime mortgage market. In this Article we argue that changes in the nature of the
mortgage contract make it both legally plausible and normatively desirable that subprime ...
Cited by 24 - Related articles - All 17 versions

Contracts and Asymmetric Information in the Theory of the Firm

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D Easley… - Journal of Economic Behavior & Organization, 1988 - Elsevier
Abstract This paper extends the Coase notation of firms as intermediaries between
consumers and input owners to incorporate asymmetric information. We show that in some
cases it is optimal for consumers to pay a fixed price for a product and to ignore how the ...
Cited by 22 - Related articles - All 5 versions

Globalization, exchange governance, and the future of exchanges

JR Macey… - Brookings-Wharton papers on financial …, 1999 - books.google.com
OUNTING COMPETITION, rapidly changing technology, and concerns about regulatory
arbitrage are focusing attention on the role of securities exchanges and the problems
associated with regulating them. In this paper we examine the changing nature of the ...
Cited by 23 - Related articles - Get it from MIT Libraries

Bubbles: Some perspectives (and loose talk) from history

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M O'Hara - Review of Financial Studies, 2008 - Soc Financial Studies
Abstract Bubbles are a topic of great importance and great controversy. This paper
discusses alternative perspectives on the economic meaning and origin of bubbles. Drawing
on historical approaches to bubbles, this article sets out a taxonomy of approaches used ...
Cited by 21 - Related articles - BL Direct - All 12 versions

Designing markets for developing countries

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M O'Hara - International Review of Finance, 2001 - Wiley Online Library
This paper highlights what we know from market microstructure and how this should guide
the design of equity markets in developing counties. I first consider the basic economic
functions of capital markets and of exchanges. I develop more fully the importance of price ...
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[CITATION] G. Saar (2002), The" Make or Take" Decision in Electronic Markets: Evidence on the Evolution of Liquidity

Full text - MIT Libraries
R Bloomfield… - Journal of Financial Economics
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Competition in investment banking

[PDF] from cornell.edu
K Ellis, R Michaely… - 2006 - papers.ssrn.com
Abstract: We construct a comprehensive measure of overall investment banking
competitiveness for follow-on offerings that aggregates the various dimensions of
competition such as fees, pricing accuracy, analyst recommendations, distributional ...
Cited by 19 - Related articles - All 2 versions

[CITATION] Market Microstructure Theory, 1995

M O'Hara - Blackwell Publishers, Cambridge, …
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The postal savings system in the depression

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M O'Hara… - The Journal of Economic History, 1979 - Cambridge Univ Press
Abstract This paper examines the behavior of the postal savings system in the Depression. It
is shown that because the system was created with an inflexible structure it was unable to
carry out its prescribed function when economic conditions changed in the Depression. ...
Cited by 17 - Related articles - All 7 versions

Evaluations of children who have disclosed sexual abuse via facilitated communication

AS Botash, D Babuts, N Mitchell… - Archives of Pediatrics …, 1994 - Am Med Assoc
Ann S. Botash, MD; Diane Babuts; Nancy Mitchell, RN, CPNP; Maureen O'Hara, RN, CNS; Laura
Lynch, MS; JoAnn Manuel, MSW ... Objective: To review the findings of interdisciplinary team
evaluations of children who disclosed sexual abuse via facilitated communication.
Cited by 17 - Related articles - BL Direct - All 3 versions

Information risk and capital structure

[PDF] from tinbergen.nl
P Agarwal… - 2007 - papers.ssrn.com
Abstract: In this paper, we investigate the effects of information asymmetry across equity
investor groups as an explanation for the capital structure decisions of the firm. We test
empirically whether differences in information across outside investors have any bearing ...
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[CITATION] Solving the corporate governance problems of banks: a proposal

JR Macey… - Banking Law Journal, 2003 - elibrary.ru
Аннотация This article describes the existing solutions that have been crafted to deal with
the corporate governance problems of banks. It then identifies the deficiencies in these
existing approaches and puts forth a proposal to address the challenges of bank ...
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Emancipatory therapeutic practice in a turbulent transmodern era: a work of retrieval

M O'Hara - Journal of Humanistic Psychology, 1997 - jhp.sagepub.com
Abstract Within the community of psychotherapists, there has always existed philosophical
and methodological tension between objectivists who follow a medical model, romantics
who favor humanistic approaches, and social constructivists who take a more ...
Cited by 15 - Related articles - BL Direct - All 2 versions

[CITATION] Science, Pseudo-Science, and Myth Mongering

M O'Hara - Not Necessarily the New Age: Critical …, 1988 - Prometheus Books Buffalo, NY
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Patterns of awareness: Consciousness and the group mind.

MM O'Hara… - Gestalt Journal, 1983 - psycnet.apa.org
APA PsycNET Our Apologies! - The following features are not available with your
current Browser configuration. - alerts user that their session is about to expire -
display, print, save, export, and email selected records - get My ...
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Liquidity and financial market stability

[PDF] from bnb.be
M O'Hara - 2010 - papers.ssrn.com
Abstract: Liquidity occupies a central importance for many areas of finance. But there are
very disparate views of liquidity, and correspondingly many different policy implications
attached to these views. In this paper, I consider the many faces of liquidity and their ...
Cited by 13 - Related articles - All 22 versions

[CITATION] Psychotherapy's own identity crisis

M O'Hara, WT Anderson - The truth about the …, 1995 - GP Putnam's Sons New York
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Cultivating Consciousness

[PDF] from corwin.com
M O'Hara - Journal of Transformative Education, 2003 - jtd.sagepub.com
Abstract The case is made for the need for a new educational praxis that can cultivate the
levels of consciousness necessary to succeed in the new emerging global contexts. The
work of Carl R. Rogers is discussed as a transformational pedagogy. In particular, his ...
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[CITATION] Competition in investment banking: Proactive, reactive

K Ellis, R Michaely… - 2004 - or retaliatory
Cited by 12 - Related articles

In Search of the Next Enlightenment?

M O'Hara - Journal of Transformative Education, 2006 - jtd.sagepub.com
Abstract We live in a period when foundational givens of thought are on the move and when
the cosmology that has framed experience in Western societies is unraveling. This is
creating a shift in the understanding of reality so fundamental that it undermines many of ...
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Is it time for clinical psychology to deconstruct constructivism?

M O'hara - Journal of Constructivist Psychology, 1995 - Taylor & Francis
Abstract I revisit the debates over absolutism versus relativism, freedom versus
determination, objectivism versus subjectivism, representationalism versus nominalism,
determinacy versus indeterminacy, and other manifestations of the realism versus ...
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Regulation and Scholarship: Constant Companions or Occasional Bedfellows

[PDF] from yale.edu
Full text - MIT Libraries
JR Macey… - Yale J. on Reg., 2009 - HeinOnline
In this Essay, we discuss the puzzling disparity between contexts in which important social
science scholarship in economics and finance influences regulation and public policy, and
contexts in which it does not. We argue that capital market regulators often are driven by ...
Cited by 13 - Related articles - All 4 versions

[PDF] Searching for a new center: US securities markets in transition

[PDF] from frb.org
M O'Hara - Economic Review, 2004 - atl.frb.org
As discussed by many authors (see, for example, Seligman 2003a and Blume 2000), these
principles, while laudable, were ill defined and often conflicting in practice. The availability of
information with respect to quotations, for example, has been criticized for allowing ...
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Market microstructure

D Easley… - … in Operations Research and Management Science, 1995 - Elsevier
... Chapter 12 Market microstructure. David Easley, Maureen O'Hara. Department of Economics,
Cornell University, Ithaca, NY 14853-4201, USA. Johnson Graduate School of Management,
Malott Hall, Cornell University, Ithaca, NY 14853-4201, USA. Available online 2 March 2005 ...
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Optimal microstructures

Full text - MIT Libraries
M O'Hara - European Financial Management, 2007 - Wiley Online Library
This paper considers the basic issue of the optimal microstructure for trading financial
assets. I propose a framework for addressing optimality that draws on the functions that
markets perform. These functions include liquidity, price discovery, and the reduction of ...
Cited by 12 - Related articles - BL Direct - All 8 versions

Heuristic inquiry as psychotherapy: The client-centered approach.

M O'Hara - Person-Centered Review, 1986 - psycnet.apa.org
Abstract 1. Views the dialogical process of client-centered therapy as a joint study of the
nature and meaning of human experience as seen from the client's point of view. It is
proposed that one way to understand the healing process in dialogical therapy is to view ...
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[PDF] The determinants of informed trading: Implications for asset pricing

[PDF] from nus.edu.sg
H Aslan, D Easley, S Hvidkjaer… - 2006 - bschool.nus.edu.sg
Microstructure research has increasingly focused on the important real effects of
microstructure variables. While traditionally such research delineated the influence of
microstructure on market variables, more recent research has shown that microstructure ...
Cited by 11 - Related articles - View as HTML - All 11 versions

Relational humanism: A psychology for a pluralistic world

M O'Hara - The Humanistic Psychologist, 1992 - Taylor & Francis
Abstract The ideal of an autonomous, clearly bounded, self‐assertive, self‐responsible
individual—which lies at the center of humanistic psychology—is culturally and contextually
limited. By overlooking the fact that selves are socially constructed, humanistic psychology ...
Cited by 11 - Related articles - BL Direct - All 3 versions

[PDF] Microstructure and ambiguity

[PDF] from nber.org
D Easley… - J Finance, 2006 - nber.org
A general goal for stock exchanges is to increase participation by firms and investors. There
is a direct reason for doing so as exchanges make money off of trade executions and listing
fees, and both of these are increased by greater participation. 1 But there is also an ...
Cited by 10 - Related articles - View as HTML - Get it from MIT Libraries - All 14 versions

Information and the Cost of Capital

M O'Hara… - EFA 2002 Berlin Meetings Presented Paper; …, 2001 - papers.ssrn.com
Abstract: We investigate the role of information in affecting a firm's cost of capital. Using a
multi-asset rational expectations model, we show that differences in the composition of
information between public and private information affect the cost of capital, with investors ...
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Technology and hedging behavior: A proof of Hicks' conjecture

Full text - MIT Libraries
M O'Hara - The American Economic Review, 1985 - JSTOR
Technical conditions give the entrepreneur a much freer hand about the acquisition of inputs
(which are largely needed to start a new process) than about the completion of outputs
(whose process of production-in the ordinary business sense-may be already begun). If ...
Cited by 8 - Related articles - All 7 versions

When I Use the Term Humanistic Psychology...

M O'Hara - Journal of Humanistic Psychology, 1989 - jhp.sagepub.com
Abstract All societies need ways to account for the existential facts of life. Humanistic
psychology may be viewed as a recent attempt to provide a coherent story acceptable to an
increasingly secular society. The author believes that even after 25 years, humanistic ...
Cited by 8 - Related articles - All 2 versions

Tax-Exempt Financing: Some Lessons from History

Full text - MIT Libraries
M O'Hara - Journal of Money, Credit and Banking, 1983 - JSTOR
TAX-EXEMPr FINANCING designed to influence capital flows to specific sectors of the
economy is now a familiar feature of the capital markets. Municipal mortgage bonds and the
new" all-saver's" certificates established by the Reagan administration are but two recent ...
Cited by 8 - Related articles - All 5 versions

[CITATION] Domestic violence and child abuse—making the links

M O'Hara - London: National Children's Bureau, 1995
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Comment on Carl Rogers's" Toward a more human science of the person."

M O'Hara - … of Humanistic Psychologies Conference (1985, San …, 1985 - psycnet.apa.org
Abstract 1. The present author agrees with C. Rogers (see record 1986-26120-001) that the
long-standing debate between positivist and nonpositivist approaches to the study of
humans has been resolved; however, it is contended that positivism still dominates within ...
Cited by 7 - Related articles - All 2 versions

[CITATION] Market Microstructure TheoryBlackwell

M O'Hara - Cambridge, MA, 1995
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