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  • 1
    Monograph available for loan
    Monograph available for loan
    Amsterdam [u.a.] : Elsevier, Acad. Press
    Call number: PIK B 130-17-91001
    Type of Medium: Monograph available for loan
    Pages: XVII, 553 S. , graph. Darst.
    Edition: 3. ed.
    ISBN: 9780123865496
    Language: English
    Note: On the Role of Financial Markets and Institutions -- The Challenges of Asset Pricing: A Road Map -- Making Choices in Risky Situations -- Measuring Risk and Risk Aversion -- Risk Aversion and Investment Decisions, Part 1 -- Risk Aversion and Investment Decisions, Part II: Modern Portfolio Theory -- Risk Aversion and Investment Decisions, Part III: Challenges to Implementation -- The Capital Asset Pricing Model -- Arrow{u2013}Debreu Pricing, Part I -- The Consumption Capital Asset Pricing Model -- Arrow{u2013}Debreu Pricing, Part II -- The Martingale Measure: Part I -- The Martingale Measure: Part II -- The Arbitrage Pricing Theory -- Portfolio Management in the Long Run -- Financial Structure and Firm Valuation in Incomplete Markets -- Financial Equilibrium with Differential Information.
    Location: A 18 - must be ordered
    Branch Library: PIK Library
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  • 2
    Electronic Resource
    Electronic Resource
    Springer
    Review of finance 2 (1998), S. 29-56 
    ISSN: 1573-692X
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper evaluates the welfare implications of front-running by mutual fund managers. It extends the model of Kyle (1985) to a situation in which the insider with fundamentals-information competes against an insider with trade-information and in which noise trading is endogenized. Noise traders are small investors trading through mutual funds to hedge non-tradable or illiquid assets. The insider with trade-information is one of the fund managers. We find that her front-running activity reduces the liquidity costs of her customers, but it also reduces their hedging benefits. As a result, the customers of the front-running manager may be worse off and place smaller orders. The opposite is true, however, for those investors who are not subject to front-running. In aggregate, front-running has either no or positive consequences for welfare.
    Type of Medium: Electronic Resource
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  • 3
    Publication Date: 1981-12-01
    Print ISSN: 0022-3808
    Electronic ISSN: 1537-534X
    Topics: Economics
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