Cross-listed Securities and Multiple Exchange Memberships(2017)
The previous literature on general equilibrium has assumed that all traders belong to a single market. However, traders often participate in more than one exchange to diversify their portfolios. Moreover, there is evidence that
the security listings of exchanges overlap. Our model captures these facts: there are multiple exchanges, the same security is listed in different exchanges, and traders can belong to more than one exchange.
Publication DateSeptember, 2017
Citation InformationJaime Luque and Marta Faias. "Cross-listed Securities and Multiple Exchange Memberships" (2017)
Available at: http://works.bepress.com/luque/29/
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