Learning by Holding and Liquidity

A number of assets do not trade publicly but are sold to a restricted group of investors who subsequently receive private information from the issuers. Thus, the holders of such privately placed assets learn more quickly about their assets than other agents. This paper studies the pricing implicatio...

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Bibliographic details
Volume: 76
Main Author: Plantin, Guillaume
Format: Journal Article
Language: English
Place of publication: Wiley Blackwell 2009
published in: Review of Economic Studies Vol. 76; no. 1; pp. 395 - 412
Data of publication: 2009
Series: Review of Economic Studies
Online Access: available in Bonn?
Database: RePEc IDEAS
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