東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back

Switch To: Labeled | MARC Mode | ISBD

Essays in Financial Economics.

Xiong, Yan.

Linked to FindBook

Google Book

Amazon

博客來

Essays in Financial Economics.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in Financial Economics./
Author:	Xiong, Yan.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2019,
Description:	157 p.
Notes:	Source: Dissertations Abstracts International, Volume: 81-05, Section: A.
Contained By:	Dissertations Abstracts International81-05A.
Subject:	Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13886288
ISBN:	9781392575031

Essays in Financial Economics.
Xiong, Yan.

Essays in Financial Economics. - Ann Arbor : ProQuest Dissertations & Theses, 2019 - 157 p.

Source: Dissertations Abstracts International, Volume: 81-05, Section: A.

Thesis (Ph.D.)--University of Toronto (Canada), 2019.

This item must not be sold to any third party vendors.

This thesis consists of three essays on financial markets, product markets, information markets, and their interaction. Chapter 1 offers an introduction of the essays and summarizes the main findings. Chapter 2 studies how product markets shape managerial short-termism (myopia). It shows that under market competition, managerial short-termism may arise endogenously as a means for firms to commit to competing aggressively. Such managerial short-termism is facilitated by financial markets as firms tie their managers' pay to the short-term stock prices. The following two chapters focus on the interaction between financial markets and information markets; both chapters demonstrate that information markets are crucial in determining asset prices and market quality in financial markets. Chapter 3 develops an information-sales model in which investors acquire uncertain skills to interpret purchased data, thereby changing the behavior of data sellers. It leads to several novel results (e.g., price informativeness increases with skill-acquisition costs), which help clarify certain empirical regularities. Chapter 4 examines sales of financial market information in an economy with two information sellers. In equilibrium, the two sellers form either orthogonal or overlapping clientele, depending on the similarity of the information to be sold. When the two sellers' information is very distinct and the sellers have relatively large bargaining power in sharing trading profits, investors' information purchase behavior exhibits complementarity, leading to the possibility of multiple equilibria.

ISBN: 9781392575031Subjects--Topical Terms:

542899
Finance.

Essays in Financial Economics.
LDR:02561nmm a2200313 4500 001 2265346
005 20200514111957.5
008 220629s2019 ||||||||||||||||| ||eng d
020 $a 9781392575031
035 $a (MiAaPQ)AAI13886288
035 $a AAI13886288
040 $a MiAaPQ $c MiAaPQ
100 1 $a Xiong, Yan. $3 1291647
245 1 0 $a Essays in Financial Economics.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2019
300 $a 157 p.
500 $a Source: Dissertations Abstracts International, Volume: 81-05, Section: A.
500 $a Advisor: Yang, Liyan.
502 $a Thesis (Ph.D.)--University of Toronto (Canada), 2019.
506 $a This item must not be sold to any third party vendors.
520 $a This thesis consists of three essays on financial markets, product markets, information markets, and their interaction. Chapter 1 offers an introduction of the essays and summarizes the main findings. Chapter 2 studies how product markets shape managerial short-termism (myopia). It shows that under market competition, managerial short-termism may arise endogenously as a means for firms to commit to competing aggressively. Such managerial short-termism is facilitated by financial markets as firms tie their managers' pay to the short-term stock prices. The following two chapters focus on the interaction between financial markets and information markets; both chapters demonstrate that information markets are crucial in determining asset prices and market quality in financial markets. Chapter 3 develops an information-sales model in which investors acquire uncertain skills to interpret purchased data, thereby changing the behavior of data sellers. It leads to several novel results (e.g., price informativeness increases with skill-acquisition costs), which help clarify certain empirical regularities. Chapter 4 examines sales of financial market information in an economy with two information sellers. In equilibrium, the two sellers form either orthogonal or overlapping clientele, depending on the similarity of the information to be sold. When the two sellers' information is very distinct and the sellers have relatively large bargaining power in sharing trading profits, investors' information purchase behavior exhibits complementarity, leading to the possibility of multiple equilibria.
590 $a School code: 0779.
650 4 $a Finance. $3 542899
650 4 $a Management. $3 516664
650 4 $a Economic theory. $3 1556984
690 $a 0508
690 $a 0511
690 $a 0454
710 2 $a University of Toronto (Canada). $b Management. $3 2102915
773 0 $t Dissertations Abstracts International $g 81-05A.
790 $a 0779
791 $a Ph.D.
792 $a 2019
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13886288