Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "9984"
  #_source: array:26 [
    "id" => "9984"
    "slug" => "why-is-there-heterogeneity-among-dealers-behavior-during-the-nasdaq-preopening-session"
    "yearMonth" => "2003-12"
    "year" => "2003"
    "title" => "Why is there heterogeneity among dealers'  behavior during the Nasdaq preopening session?"
    "description" => "LESCOURRET, L. et ROBERT, C. (2003). Why is there heterogeneity among dealers'  behavior during the Nasdaq preopening session? Dans: <i>EFMA Basel Meeting</i>. SSRN."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "LESCOURRET Laurence"
        "bid" => "B00024824"
        "slug" => "daures-laurence"
      ]
      1 => array:1 [
        "name" => "ROBERT Christian"
      ]
    ]
    "ouvrage" => "EFMA Basel Meeting"
    "keywords" => array:2 [
      0 => "market microstructurepreopening"
      1 => "inventory management"
    ]
    "updatedAt" => "2021-07-13 14:31:24"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => null
      "volume" => null
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Actes d'une conférence"
      "en" => "Conference Proceedings"
    ]
    "support_type" => array:2 [
      "fr" => "Editeur"
      "en" => "Publisher"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Order preferencing enables a market-maker to execute captive order flow off the primary market. This practice is known to generate wider spreads due to its anti-competitive effects. It also increased inventory risks for dealers. The Nasdaq preopening offers a laboratory to test whether market-makers use non-binding prices as a tool to control their inventory position. Our findings corroborate our main hypothesis that the Nasdaq non-trading mechanism incorporates inventory information into prices."
      "en" => "Order preferencing enables a market-maker to execute captive order flow off the primary market. This practice is known to generate wider spreads due to its anti-competitive effects. It also increased inventory risks for dealers. The Nasdaq preopening offers a laboratory to test whether market-makers use non-binding prices as a tool to control their inventory position. Our findings corroborate our main hypothesis that the Nasdaq non-trading mechanism incorporates inventory information into prices."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-12-21T18:21:44.000Z"
    "docTitle" => "Why is there heterogeneity among dealers'  behavior during the Nasdaq preopening session?"
    "docSurtitle" => "Conference Proceedings"
    "authorNames" => "<a href="/cv/daures-laurence">LESCOURRET Laurence</a>, ROBERT Christian"
    "docDescription" => "<span class="document-property-authors">LESCOURRET Laurence, ROBERT Christian</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2003</span>"
    "keywordList" => "<a href="#">market microstructurepreopening</a>, <a href="#">inventory management</a>"
    "docPreview" => "<b>Why is there heterogeneity among dealers'  behavior during the Nasdaq preopening session?</b><br><span>2003-12 | Conference Proceedings </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">Why is there heterogeneity among dealers'  behavior during the Nasdaq preopening session?</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 8.664785
  +"parent": null
}