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| 02297cam 2200397zi 4500 |
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| 001 | 9.888246 |
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| 003 | CaOODSP |
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| 005 | 20221107171932 |
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| 006 | m o d f |
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| 007 | cr |n||||||||| |
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| 008 | 200615t20202020oncd ob f000 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2020-20E-PDF |
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| 100 | 1 |aGarriott, Corey, |eauthor. |
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| 245 | 10|aTrading on long-term information / |cby Corey Garriott and Ryan Riordan. |
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| 264 | 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2020. |
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| 264 | 4|c©2020 |
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| 300 | |a1 online resource (iii, 54 pages) : |bgraphs (mostly colour). |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2020-20 |
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| 500 | |aCover title. |
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| 500 | |a"Last updated: June 4, 2020." |
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| 504 | |aIncludes bibliographical references (pages 33-35). |
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| 520 | 3 |a"Predatory trading discourages informed investors from gathering information and trading on it. However, using 11 years of equity trading data, we do not find evidence that informed investors are being discouraged. They have roughly constant volumes and profits through the sample. They are sophisticated, trading patiently over weeks and timing their trading to achieve negative price impacts, leaving price efficiency unchanged. We identify shorter-term traders and, in contrast to theory, find that they supply liquidity by trading in the opposite direction of the informed. Inefficient prices may be the result of informed investors' sophisticated trading and not of predatory short-term trading"--Abstract, page iii. |
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| 650 | 0|aStocks|zCanada. |
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| 650 | 0|aInvestment analysis|zCanada. |
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| 650 | 0|aInsider trading in securities|zCanada. |
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| 650 | 6|aActions (Titres de société)|zCanada. |
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| 650 | 6|aAnalyse financière|zCanada. |
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| 650 | 6|aOpérations d'initié (Valeurs mobilières)|zCanada. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2020-20.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s688 KB|uhttps://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-20-eng.pdf |
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