Peter L. Swan

University of New South Wales (UNSW Sydney

Professor of Finance

School of Banking and Finance

UNSW Business School

Sydney NSW, NSW 2052

Australia

http://https://www.business.unsw.edu.au/our-people/peterswan

Financial Research Network (FIRN)

C/- University of Queensland Business School

St Lucia, 4071 Brisbane

Queensland

Australia

http://www.firn.org.au

  • University of New South Wales (UNSW Sydney

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    • Tel: +61 2 9385 5871
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SCHOLARLY PAPERS

62

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158

Scholarly Papers (62)

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1.

Double or Nothing: Patterns of Equity Fund Holdings and Transactions

EFA 2005 Moscow Meetings Paper
Number of pages: 46 Posted: 11 Jul 2005
Stephen J. Brown, Peter L. Swan, Onno W. Steenbeek and David R. Gallagher
New York University - Stern School of Business, University of New South Wales (UNSW Sydney, Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) and Bond University
Downloads 1,119 (40,070)
Citation 20

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Prospect Theory, Disposition Effect, Risk management; Performance evaluation; Window dressing

2.

Does Board "Independence" Destroy Corporate Value?

26th Australasian Finance and Banking Conference 2013, 27th Australasian Finance and Banking Conference 2014 Paper
Number of pages: 51 Posted: 20 Aug 2013 Last Revised: 13 Oct 2014
Peter L. Swan and David Forsberg
University of New South Wales (UNSW Sydney and UNSW Business School
Downloads 1,071 (42,750)
Citation 1

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Independent directors, Board monitoring, Board characteristics, Board performance

3.

Does 'Illiquidity' Rather than 'Risk Aversion' Explain the Equity Premium Puzzle?: The Value of Endogenous Market Trading

University of Sydney School of Business Working Paper; EFA 2002 Berlin Meetings Discussion Paper
Number of pages: 52 Posted: 18 Dec 2000
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 879 (56,244)
Citation 2

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equity premium, asset prices, liquidity, trading, transaction cost, amortized spread.

4.

Why Do Markets Fragment? A Panel-Data Analysis of Off-Exchange Trading

EFA 0729
Number of pages: 47 Posted: 08 Feb 2001
Kingsley Fong, Peter L. Swan and Ananth Madhavan
UNSW Business School, University of New South Wales (UNSW Sydney and BlackRock, Inc.
Downloads 865 (57,480)
Citation 19

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Fragmentation, Off-Market Trading, Transparency, Anonymity, Electronic Communication Networks

5.

Agency Problems are Ameliorated by Stock Market Liquidity: Monitoring, Information and the Use of Stock-Based Compensation

EFA 2002 Berlin Meetings Presented Paper; UNSW School of Banking and Finance Faculty of Commerce
Number of pages: 51 Posted: 16 Feb 2002
Gerald T. Garvey and Peter L. Swan
Blackrock and University of New South Wales (UNSW Sydney
Downloads 819 (61,948)
Citation 3

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Pay-performance sensitivity, Executive options; Incentives; Liquidity; Information content; Monitoring, Bonus schemes

6.

Do Wealth Creating Mergers and Acquisitions Really Hurt Acquirer Shareholders?

AFA 2012 Chicago Meetings Paper, 24th Australasian Finance and Banking Conference 2011 Paper
Number of pages: 62 Posted: 22 Mar 2011 Last Revised: 11 Jun 2012
Ronald W. Masulis, Peter L. Swan and Brett Tobiansky
University of New South Wales, Sydney, University of New South Wales (UNSW Sydney and University of New South Wales
Downloads 740 (70,833)
Citation 7

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M&A, takeover bids, acquisition benefits, acquirer gains, acquisition synergies, targets, bidders, failed bids.iled bids

7.

The Gender Face-Off: Do Females Come Out on Top in Terms of Trading Performance?

29th Australasian Finance and Banking Conference 2016
Number of pages: 63 Posted: 20 Aug 2016 Last Revised: 04 Sep 2016
Wei Lu, Peter L. Swan and P. Joakim Westerholm
The University of New South Wales, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 709 (74,875)
Citation 1

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Gender differences, Individual investors, Calendar-time, Horizon-invariant, Trading performance

8.

The Political Economy of the Subprime Crisis: Why Subprime Was So Attractive to Its Creators

European Journal of Political Economy, Forthcoming
Number of pages: 25 Posted: 29 Dec 2008
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 609 (90,825)

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Subprime crisis, Government bailouts, Vested interests, Regulatory failure

9.

Executive Pay, Talent and Firm Size: Why has CEO Pay Grown so Much?

UNSW Australian School of Business Research Paper No. 2009 FIN 01
Number of pages: 57 Posted: 17 Jun 2009 Last Revised: 19 Jan 2010
Jaeyoung Sung and Peter L. Swan
Ajou University and University of New South Wales (UNSW Sydney
Downloads 606 (91,416)
Citation 4

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executive pay, firm size, career concern, CEO talent, principal-agent

10.

The Liquidity Component of the Equity Premium

Downloads 600 (92,563)
Citation 2

The Liquidity Component of the Equity Premium

Second Singapore International Conference on Finance 2008
Number of pages: 36 Posted: 23 Mar 2007 Last Revised: 06 Apr 2008
Andre Levy and Peter L. Swan
UNSW Business School and University of New South Wales (UNSW Sydney
Downloads 344 (177,041)
Citation 2

Abstract:

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equity-premium puzzle, asset prices, liquidity, trading, transaction cost

The Liquidity Component of the Equity Premium

Number of pages: 36 Posted: 08 Mar 2008
Peter L. Swan and André Levy
University of New South Wales (UNSW Sydney and Australian Prudential Regulation Authority
Downloads 256 (241,652)

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equity-premium puzzle, asset prices, liquidity, trading, transaction cost

11.

Governance through Trading: Institutional Swing Trades and Subsequent Firm Performance

EFA 2009 Bergen Meetings Paper
Number of pages: 52 Posted: 23 Nov 2008 Last Revised: 11 Oct 2011
David R. Gallagher, Peter Gardner and Peter L. Swan
Bond University, Plato Investment Management and University of New South Wales (UNSW Sydney
Downloads 568 (99,493)
Citation 15

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Informativeness, Market microstructure, Wall Street rule, Swing trading, Monitoring

12.

Follow the Leader: The Cause and Consequences of Fund Managers Trading in Signal-Strength Sequence

Number of pages: 37 Posted: 26 Mar 2008 Last Revised: 21 Jul 2008
Peter L. Swan, Kingsley Fong, Peter Gardner and David R. Gallagher
University of New South Wales (UNSW Sydney, UNSW Business School, Plato Investment Management and Bond University
Downloads 567 (99,493)
Citation 1

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Herding, Informational cascades, Trade sequences, Leader and follower trades

13.

The Road to Riches: CEO Incentives and Firm Performance

Number of pages: 46 Posted: 20 Mar 2008 Last Revised: 06 Apr 2008
Gavin Smith and Peter L. Swan
University of New South Wales - School of Banking and Finance and University of New South Wales (UNSW Sydney
Downloads 551 (103,119)
Citation 3

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Incentives, CEO compensation, Market valuation, Operating performance

14.

Does Executive Compensation Disclosure Alter Pay at the Expense of Incentives?

Number of pages: 45 Posted: 23 Jun 2006
Xianming Zhou and Peter L. Swan
Australian National University and University of New South Wales (UNSW Sydney
Downloads 539 (105,973)
Citation 2

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CEO compensation, disclosure, regulation, contracts, pay levels, pay sensitivity

15.

Institutional Investor Monitoring and the Structure of Corporate Boards

Number of pages: 67 Posted: 20 Mar 2008
Gavin Smith, Peter L. Swan and David R. Gallagher
University of New South Wales - School of Banking and Finance, University of New South Wales (UNSW Sydney and Bond University
Downloads 523 (109,958)
Citation 2

Abstract:

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Board of Directors, Monitoring, Institutional Investment Behavior

16.

Executive Pay, Talent and Firm Size

Downloads 449 (132,104)
Citation 1

Executive Pay, Talent and Firm Size

21st Australasian Finance and Banking Conference 2008 Paper
Number of pages: 63 Posted: 25 Aug 2008 Last Revised: 29 Jan 2009
Jaeyoung Sung and Peter L. Swan
Ajou University and University of New South Wales (UNSW Sydney
Downloads 258 (239,736)
Citation 1

Abstract:

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executive pay, firm size, career concern, CEO talent, principal-agent, optimal contract.

Executive Pay, Talent and Firm Size

Number of pages: 62 Posted: 13 Aug 2008 Last Revised: 23 Jan 2009
Jaeyoung Sung and Peter L. Swan
Ajou University and University of New South Wales (UNSW Sydney
Downloads 191 (320,523)

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executive pay, firm size, career concern, CEO talent, principal-agent, optimal contract

17.

Do Wealth Creating Mergers and Acquisitions Really Hurt Bidder Shareholders?

FIRN Research Paper No. 2517209
Number of pages: 69 Posted: 31 Oct 2014 Last Revised: 17 Feb 2017
Mark Humphery-Jenner, Mark Humphery-Jenner, Ronald W. Masulis and Peter L. Swan
University of New South Wales (UNSW)UNSW Business School, University of New South Wales, Sydney and University of New South Wales (UNSW Sydney
Downloads 447 (132,778)
Citation 1

Abstract:

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M&A, takeovers, acquisitions, synergies, targets, bidders, failed bids

18.

'Other People’s Money': The Trading Performance of Household Investors vs. Delegated Money Managers

28th Australasian Finance and Banking Conference, Second Annual Volatility Institute at NYU Shanghai (VINS) 2016
Number of pages: 58 Posted: 02 Mar 2015 Last Revised: 27 Feb 2017
Wei Lu, Peter L. Swan and P. Joakim Westerholm
The University of New South Wales, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 444 (133,891)
Citation 1

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Households, Institutional investors, Calendar-time, Horizon-invariant, Trading performance

19.

Do Concentrated Institutional Investors Really Reduce Executive Compensation Whilst Raising Incentives?

UNSW Australian School of Business Research Paper No. 2012 BFIN 13
Number of pages: 36 Posted: 26 Mar 2008 Last Revised: 06 Jul 2012
Gavin Smith and Peter L. Swan
University of New South Wales - School of Banking and Finance and University of New South Wales (UNSW Sydney
Downloads 428 (139,800)
Citation 2

Abstract:

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Executive compensation, Monitoring, Institutional ownership, Principal-agent, Incentives

20.

Is Company Performance Dependent on Outside Director 'Skin in the Game'?

Number of pages: 36 Posted: 25 Jan 2011
Peter L. Swan and Serkan Honeine
University of New South Wales (UNSW Sydney and affiliation not provided to SSRN
Downloads 420 (142,857)
Citation 3

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Board monitoring, Incentive alignment, Independent director, Executive director, Firm performance

21.

The Complementary Roles of Board Incentives and Market Monitoring: Theory and Evidence

Downloads 416 (144,483)

The Complementary Roles of Board Incentives and Market Monitoring: Theory and Evidence

FIRN Research Paper No. 2766185
Number of pages: 75 Posted: 18 Apr 2016 Last Revised: 21 Oct 2016
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 247 (250,590)

Abstract:

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Independent directors, Board monitoring, Governance through Trading, Board performance, Gray directors

The Complementary Roles of Board Incentives and Market Monitoring: Theory and Evidence

Number of pages: 75 Posted: 01 Oct 2016 Last Revised: 21 Oct 2016
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 66 (697,977)

Abstract:

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Independent directors, Board monitoring, Governance through Trading, Board performance, Gray directors

The Complementary Roles of Board Incentives and Market Monitoring: Theory and Evidence

2016 Financial Markets and Corporate Governance
Number of pages: 75 Posted: 11 Feb 2016 Last Revised: 01 Jul 2017
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 56 (757,289)

Abstract:

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Independent directors, Board monitoring, Governance through Trading, Board performance, Gray directors

The Complementary Roles of Board Incentives and Market Monitoring: Theory and Evidence

Number of pages: 75 Posted: 20 Aug 2016 Last Revised: 21 Oct 2016
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 47 (820,036)

Abstract:

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Independent directors, Board monitoring, Governance through Trading, Board performance, Gray directors

22.

Price Discovery and Information in an Emerging Market: Evidence from China

Number of pages: 43 Posted: 19 Jan 2009 Last Revised: 15 Jul 2010
Jingyun Ma, Peter L. Swan and Fengming Song
Tsinghua University - School of Economics & Management, University of New South Wales (UNSW Sydney and Tsinghua University - School of Economics & Management
Downloads 406 (148,627)
Citation 3

Abstract:

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Price discovery, Cross-listing, Cointegration, Chinese securities

23.

The Incentive to 'Bet the Farm': CEO Compensation and Major Investments

Number of pages: 55 Posted: 19 Mar 2008 Last Revised: 06 Apr 2008
Gavin Smith and Peter L. Swan
University of New South Wales - School of Banking and Finance and University of New South Wales (UNSW Sydney
Downloads 404 (149,504)
Citation 4

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Acquisitions, Capital Expenditures, Incentives, Firm Performance, Risk

24.

Portfolio Pumping: An Examination of Investment Manager Quarter-End Trading and Impact on Performance

Number of pages: 40 Posted: 04 Nov 2005 Last Revised: 31 Mar 2008
Peter L. Swan, Peter Gardner and David R. Gallagher
University of New South Wales (UNSW Sydney, Plato Investment Management and Bond University
Downloads 385 (157,664)
Citation 20

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Gaming behavior, Window dressing, Portfolio pumping, Market manipulation

25.

Will the Real Monitors Please Stand Up?: Institutional Investors and CEO Compensation

Number of pages: 47 Posted: 26 Mar 2008
Gavin Smith and Peter L. Swan
University of New South Wales - School of Banking and Finance and University of New South Wales (UNSW Sydney
Downloads 339 (181,442)
Citation 6

Abstract:

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Incentives, CEO compensation, Institutional investor monitoring

26.

Are Upstairs Markets Pareto Improving?

EFA 2003 Annual Conference Paper No. 751
Number of pages: 43 Posted: 23 Jul 2003
Peter L. Swan, Kingsley Fong and Ananth Madhavan
University of New South Wales (UNSW Sydney, UNSW Business School and BlackRock, Inc.
Downloads 332 (185,463)

Abstract:

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Fragmentation, upstairs trading, crossing networks, liquidity, cream skimming

27.

CEO Incentives and Institutional Trader Monitoring are Substitutes: Theory and Evidence

AFA 2012 Chicago Meetings Paper, 24th Australasian Finance and Banking Conference 2011 Paper
Number of pages: 64 Posted: 25 Jan 2010 Last Revised: 03 Jan 2012
Brandon Chen and Peter L. Swan
University of Technology Sydney (UTS) and University of New South Wales (UNSW Sydney
Downloads 330 (186,669)
Citation 2

Abstract:

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Informativeness, Incentives, Substitutes, CEO pay, Institutional monitoring, Governance through Trading

28.

Security Timing Ability and Fund Manager Performance

Number of pages: 21 Posted: 31 May 2007 Last Revised: 24 Sep 2008
David R. Gallagher, Andrew N. Ross and Peter L. Swan
Bond University, University of New South Wales (UNSW) and University of New South Wales (UNSW Sydney
Downloads 318 (194,143)

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Security Timing, Daily Trading, Performance Evaluation

29.

Market Architecture and Global Exchange Efficiency: One Design Need not Fit all Stock Sizes

Number of pages: 47 Posted: 23 Mar 2007
Peter L. Swan and P. Joakim Westerholm
University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 312 (198,208)
Citation 4

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market design, exchange trading systems, transparency, opacity, decimalization

30.

The Impact of Strategic Investor Activism on Institutional Trading and Portfolio Returns

Number of pages: 47 Posted: 26 Feb 2007 Last Revised: 30 Mar 2008
Peter L. Swan, Peter Gardner and David R. Gallagher
University of New South Wales (UNSW Sydney, Plato Investment Management and Bond University
Downloads 294 (211,163)

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Short-term Trading, Disposition Effect, Portfolio Turnover, Institutional Activism, Monitoring

31.

Is Liquidity Largely Unpriced While Market Volatility is Systematically Priced?

Downloads 282 (220,433)

Is Liquidity Largely Unpriced While Market Volatility is Systematically Priced?

Number of pages: 61 Posted: 15 Jan 2016 Last Revised: 11 Feb 2016
Andre Levy and Peter L. Swan
UNSW Business School and University of New South Wales (UNSW Sydney
Downloads 150 (396,810)

Abstract:

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equity-premium puzzle, illiquidity premium, liquidity, trading, volatility risk

Is Market Volatility Systematically Priced While Illiquidity Is Only Priced on the Down-Side?

29th Australasian Finance and Banking Conference 2016
Number of pages: 43 Posted: 26 Feb 2016 Last Revised: 21 Aug 2016
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 132 (440,191)

Abstract:

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equity-premium puzzle, illiquidity premium, liquidity, short-sale, volatility risk

32.

Do Institutional Investors Really Reduce Executive Compensation whilst Raising Incentives?

Critical Finance Review, Forthcoming
Number of pages: 33 Posted: 13 Apr 2007 Last Revised: 08 May 2013
Gavin Smith and Peter L. Swan
University of New South Wales - School of Banking and Finance and University of New South Wales (UNSW Sydney
Downloads 262 (237,478)
Citation 6

Abstract:

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Executive compensation, Monitoring, Institutional ownership, Principal-agent, Incentives, Concentrated ownership

33.

Do Active Fund Managers Care about Capital Gains Tax Efficiency?

20th Australasian Finance & Banking Conference 2007 Paper
Number of pages: 30 Posted: 07 Mar 2007 Last Revised: 30 Mar 2008
Peter L. Swan, Kingsley Fong, Sarah Lau and David R. Gallagher
University of New South Wales (UNSW Sydney, UNSW Business School, UNSW Australia Business School, School of Banking and Finance and Bond University
Downloads 259 (240,196)
Citation 2

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portfolio management, capital gains tax, active management

34.

Is it Ability or Size Alone Which Explains High Executive Pay in Large Firms? New Evidence on the 'Cloning' Hypothesis

UNSW School of Banking and Finance Faculty of Commerce Working Paper
Number of pages: 21 Posted: 16 Feb 2002
Teddy Oetomo and Peter L. Swan
Schroder Investment Management Indonesia and University of New South Wales (UNSW Sydney
Downloads 253 (245,961)
Citation 3

Abstract:

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executive pay, firm size, managerial ability, firm performance, cloning hypothesis

35.

Informationless Trading

Downloads 227 (273,388)

Informationless Trading

NYU Working Paper No. FIN-03-035
Number of pages: 46 Posted: 11 Nov 2008
Stephen J. Brown, David R. Gallagher, Onno W. Steenbeek and Peter L. Swan
New York University - Stern School of Business, Bond University, Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) and University of New South Wales (UNSW Sydney
Downloads 122 (468,713)

Abstract:

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Informationless Trading, Sharpe Ratios, Performance Evaluation

Informationless Trading

NYU Working Paper No. SC-AM-04-01
Number of pages: 46 Posted: 04 Nov 2008
Stephen J. Brown, David R. Gallagher, Onno W. Steenbeek and Peter L. Swan
New York University - Stern School of Business, Bond University, Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) and University of New South Wales (UNSW Sydney
Downloads 105 (525,827)

Abstract:

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Informationless Trading, Sharpe Ratios, Performance Evaluation

36.

Investment, the Corporate Tax Rate, and the Pricing of Franking Credits

31st Australasian Finance and Banking Conference 2018
Number of pages: 28 Posted: 30 Jul 2018 Last Revised: 05 Apr 2019
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 226 (274,592)
Citation 1

Abstract:

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Franking credit, imputation benefit, corporate tax, investment, small country

37.

Optimal Portfolio Balancing Under Conventional Preferences and Transaction Costs Explains the Equity Premium Puzzle

Number of pages: 50 Posted: 10 Mar 2005
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 205 (301,121)
Citation 2

Abstract:

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equity-premium puzzle, asset prices, liquidity, trading, transactions cost

38.

When the Remedy Is the Problem: Independent Boards, Short-Termism, and the Subprime Crisis

31st Australasian Finance and Banking Conference 2018
Number of pages: 35 Posted: 14 Jun 2018 Last Revised: 03 Dec 2019
Dietmar Leisen and Peter L. Swan
Johannes Gutenberg University Mainz - Department of Banking and University of New South Wales (UNSW Sydney
Downloads 196 (313,879)
Citation 2

Abstract:

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G21; G32; G34

39.

Limit Up Limit Down, Exchange Access Fee and High Frequency Trading Around Price Limits

30th Australasian Finance and Banking Conference 2017
Number of pages: 39 Posted: 17 Aug 2017 Last Revised: 24 Mar 2019
Yiping Lin and Peter L. Swan
University of New South Wales and University of New South Wales (UNSW Sydney
Downloads 191 (321,403)

Abstract:

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Limit Up Limit Down, Dynamic Price Limit, Magnet Effect, Exchange Access Fee, High Frequency Trading

40.

Will the True Marginal Investor Please Stand Up?: Asset Prices with Immutable Security Trading by Investors

UNSW School of Banking and Finance Working Paper
Number of pages: 28 Posted: 16 Feb 2002
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 190 (322,980)
Citation 1

Abstract:

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asset pricing, liquidity, security trading, transactions cost, trading benefits

41.

Institutional Trader Monitoring and Firm Performance

Number of pages: 38 Posted: 19 Dec 2011
Brandon Chen and Peter L. Swan
University of Technology Sydney (UTS) and University of New South Wales (UNSW Sydney
Downloads 187 (327,678)

Abstract:

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Wall Street Rule, Institutional investor monitoring, Firm performance, Corporate governance

42.

The Threat of Exit with Optimal Contracting: Institutional Churning Trades and Subsequent Firm Performance

Number of pages: 50 Posted: 07 Jul 2009
David R. Gallagher, Peter Gardner and Peter L. Swan
Bond University, Plato Investment Management and University of New South Wales (UNSW Sydney
Downloads 182 (335,888)
Citation 1

Abstract:

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informativeness, voting with your feet, Wall Street rule, churning, governance

43.

Concave Payoff Patterns in Equity Fund Holdings and Transactions

Number of pages: 29 Posted: 14 Mar 2006
Stephen J. Brown, Peter L. Swan, David R. Gallagher and Onno W. Steenbeek
New York University - Stern School of Business, University of New South Wales (UNSW Sydney, Bond University and Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)
Downloads 174 (349,488)
Citation 1

Abstract:

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Performance measurement, market timing measures, disposition effect, overlay strategies

44.

A Model of Maker-Taker Fees and Quasi-Natural Experimental Evidence

Number of pages: 46 Posted: 06 Nov 2018 Last Revised: 16 Feb 2021
Yiping Lin, Peter L. Swan and Frederick H. deB. Harris
University of New South Wales, University of New South Wales (UNSW Sydney and Wake Forest University
Downloads 173 (351,277)
Citation 3

Abstract:

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Maker-Taker Fee, Exchange Competition, Market Efficiency, RegNMS, Fee Pilot

45.

Intra-Day Revelation of Counterparty Identity in the World's Best-Lit Market

28th Australasian Finance and Banking Conference
Number of pages: 52 Posted: 14 Aug 2015 Last Revised: 14 Jun 2020
Thu Phuong Pham, Peter L. Swan and P. Joakim Westerholm
Curtin University, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 160 (375,561)
Citation 3

Abstract:

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transparency, anonymity, market efficiency, market quality

46.

Why are Limit Orders Always Linear?

Number of pages: 8 Posted: 19 Mar 2008
Andre Levy and Peter L. Swan
UNSW Business School and University of New South Wales (UNSW Sydney
Downloads 155 (385,858)

Abstract:

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47.

Executive Pay and Firm Size in the Presence of Career Concerns and Labor Market Competition

Number of pages: 54 Posted: 15 Mar 2010
Jaeyoung Sung and Peter L. Swan
Ajou University and University of New South Wales (UNSW Sydney
Downloads 135 (431,159)

Abstract:

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CEO pay, firm size, track-record, talent, principal-agent

48.

Bank Risk Governance

Number of pages: 111 Posted: 16 Mar 2023 Last Revised: 12 Sep 2023
Dietmar Leisen and Peter L. Swan
Johannes Gutenberg University Mainz - Department of Banking and University of New South Wales (UNSW Sydney
Downloads 108 (511,047)

Abstract:

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Risk governance, outside directors, monitoring quality, subprime crisis, risk taking, risk oversight

49.

'Smart Money?': The Trading Performance of Hedge Funds in a Zero-Sum Contest

30th Australasian Finance and Banking Conference 2017
Number of pages: 46 Posted: 17 Aug 2017
Wei Lu and Peter L. Swan
The University of New South Wales and University of New South Wales (UNSW Sydney
Downloads 106 (518,029)

Abstract:

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Hedge funds, Mutual funds, Calendar-time, Horizon-invariant, Trading performance

50.

Who Benefits from Broker ID Disclosure?

31st Australasian Finance and Banking Conference 2018
Number of pages: 67 Posted: 30 Jul 2018
Juliane Krug, Peter L. Swan and P. Joakim Westerholm
University of New South Wales, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 97 (550,824)
Citation 1

Abstract:

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Market quality, market efficiency, liquidity, transparency, broker IDs, trades, orders, individual investors, institutional investors

51.

Reg NMS and Minimum-Tick Distort the Market in Opposing Directions: Theory and Market Experimental Evidence

Macquarie University Faculty of Business & Economics Research Paper
Number of pages: 47 Posted: 09 Nov 2018 Last Revised: 16 Jun 2019
Yiping Lin, Peter L. Swan and Vito Mollica
University of New South Wales, University of New South Wales (UNSW Sydney and Macquarie Graduate School of Management
Downloads 88 (585,417)
Citation 3

Abstract:

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Information Content, Information Asymmetry, Tick Size, Exchange Access Fee, Reg NMS Rules.

52.

Is An Informative Stock Price Used Less in Incentive Contracts?

Number of pages: 37 Posted: 06 May 2019 Last Revised: 20 May 2019
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 79 (623,693)

Abstract:

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Liquidity, Agency, Incentives, Monitoring, Franchise

53.

When are Limit Orders Linear?

Number of pages: 23 Posted: 25 Jan 2011
André Levy and Peter L. Swan
Australian Prudential Regulation Authority and University of New South Wales (UNSW Sydney
Downloads 63 (701,602)

Abstract:

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market microstructure, uniqueness, market power, Kyle model, market impact

54.

Why Maker-Taker Venues Facilitate Price Discovery? Quasi-Natural Experimental Evidence

Number of pages: 51 Posted: 15 Jan 2022
Yiping Lin, Peter L. Swan and Frederick H. deB. Harris
affiliation not provided to SSRN, University of New South Wales (UNSW Sydney and Wake Forest University
Downloads 61 (712,514)

Abstract:

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Maker-Taker Fee, adverse selection, Price discovery, RegNMS, Fee Pilot

55.

Are Domestic Household Investors Better Performers than Foreign Institutions? New Evidence from Finland

2016, Behavioral Finance, Where Do Investors' Biases Come From?, Edited by Itzhak Venezia, Hackensack, NJ, World Scientific Publishing
Number of pages: 39 Posted: 06 Jul 2017
Peter L. Swan and P. Joakim Westerholm
University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 61 (718,110)

Abstract:

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positive-feedback trading; agency problems; home-bias; noise trading

56.

Why Do Agency Theorists Misinterpret Market Monitoring?

Number of pages: 34 Posted: 19 Mar 2018 Last Revised: 17 Apr 2018
Peter L. Swan
University of New South Wales (UNSW Sydney
Downloads 55 (747,678)

Abstract:

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Pay-Performance Sensitivity, Governance Through Trading, Agency, Incentives, External Monitoring

57.

The State as Marriage Partner of Last Resort: A Labor Market Approach to Single Motherhood in the United States, 1960-1980

Number of pages: 55 Posted: 27 Apr 2013
Michael S. Bernstam and Peter L. Swan
Stanford University - The Hoover Institution on War, Revolution and Peace and University of New South Wales (UNSW Sydney
Downloads 50 (779,869)

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single-motherhood, labor-market, teenage women, joblessness, minimum-wage

58.

Why Do Trading Frenzies Motivate “locals” to Make Better Trading Decisions

UNSW Business School Research Paper Forthcoming
Number of pages: 77 Posted: 21 May 2024 Last Revised: 14 Nov 2024
Wei Lu, Peter L. Swan and P. Joakim Westerholm
RQI Investors, University of New South Wales (UNSW Sydney and University of Sydney Business School
Downloads 43 (830,010)

Abstract:

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Local advantage, Home bias, Calendar-time, Horizon-invariant, Disposition effect.

59.

Why Do Markets Fragment with Heterogeneous Fee Structures? Quasi- Experimental Evidence

UNSW Business School Research Paper Forthcoming
Number of pages: 53 Posted: 06 Dec 2023
Yiping Lin, Peter L. Swan and Frederick H. deB. Harris
University of New South Wales, University of New South Wales (UNSW Sydney and Wake Forest University
Downloads 40 (853,361)

Abstract:

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Maker-Taker Fee, Adverse Selection, Price Discovery, Reg NMS, Fee Pilot

60.

Can Illiquidity Be Priced in an Active Secondary Market? Theory and Evidence

31st Australasian Finance and Banking Conference 2018
Number of pages: 48 Posted: 30 Jul 2018 Last Revised: 18 Nov 2022
Pallab Dey and Peter L. Swan
University of New South Wales (UNSW), UNSW Business School and University of New South Wales (UNSW Sydney
Downloads 34 (904,878)

Abstract:

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Illiquidity, Asset Pricing, Downside Illiquidity, Counterparty

61.

How Brokers Facilitate Trade for Long-Term Clients in Competitive Securities Markets

JOURNAL OF BUSINESS, January 1995
Posted: 20 Dec 1998
Michael J. Aitken, Peter L. Swan and Gerald T. Garvey
Macquarie Graduate School of Management, University of New South Wales (UNSW Sydney and Blackrock

Abstract:

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62.

Stock Market Liquidity and Optimal Management Compensation: Theory and Evidence

Posted: 10 Oct 1998
Gerald T. Garvey, Peter L. Swan and Michael S. McCorry
Blackrock, University of New South Wales (UNSW Sydney and affiliation not provided to SSRN

Abstract:

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