Measuring Closing Price Manipulation
- Academic Press Inc Elsevier Science
- Publication Type:
- Journal Article
- Journal of Financial Intermediation, 2011, 20 (2), pp. 135 - 158
- Issue Date:
Copyright Clearance Process
- Recently Added
- In Progress
- Closed Access
This item is closed access and not available.
We quantify the effects of closing price manipulation on trading characteristics and stock price accuracy using a unique sample of prosecuted manipulation cases. Based on these findings we construct an index of the probability and intensity of closing price manipulation. As well as having regulatory applications, this index can be used to study manipulation in the large number of markets and time periods in which prosecution data are not readily available.
Please use this identifier to cite or link to this item: