Impact of the price adjustment process a
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Shi-Miin Liu; Sarahelen Thompson; Paul Newbold
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Article
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1992
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John Wiley and Sons
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English
β 730 KB
Three major types of price-adjustment delays caused by institutional factors are discussed by Cohen, Maier, Schwartz, and Whitcomb (CMSW) (1986, p. 114): (1) transaction price adjustments lag quotation price adjustments; (2) specialist-dealers impede quotation price adjustments; and (3) quotation pr