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Chmura, T. 
ORCID: 0000-0001-7476-2030, Bai, Y. and Bauder, D.,
2019.
The impact of an insider and short-selling on bubble formation in experimental financial market.
Journal of International Financial Markets, Institutions and Money, 60, pp. 211-230.
ISSN 1042-4431
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Abstract
This study extends the institutional design of the existing literature focusing solely on short selling by introducing an insider who is informed of the dividend distribution and experienced outsiders who gain information via trading experience. Our findings show that introducing short selling and an insider does reduce the bubble duration and size. At the same time, volatility is significantly reduced. Furthermore, the presence of the single insider reduces the large undervaluation and overall turnover in pure short selling treatment and generates small positive bubbles. Once the outsiders gain information via trading experience, there are small positive bubbles with reduced volatility.
| Item Type: | Journal article | ||||||||
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| Publication Title: | Journal of International Financial Markets, Institutions and Money | ||||||||
| Creators: | Chmura, T., Bai, Y. and Bauder, D. | ||||||||
| Publisher: | Elsevier | ||||||||
| Date: | May 2019 | ||||||||
| Volume: | 60 | ||||||||
| ISSN: | 1042-4431 | ||||||||
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| Divisions: | Schools > Nottingham Business School | ||||||||
| Record created by: | Jonathan Gallacher | ||||||||
| Date Added: | 15 Nov 2019 10:13 | ||||||||
| Last Modified: | 21 Jan 2020 03:00 | ||||||||
| URI: | https://irep.ntu.ac.uk/id/eprint/38307 |
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