Chester S. Spatt

Carnegie Mellon University - David A. Tepper School of Business

Pamela R. and Kenneth B. Dunn Professor of Finance

5000 Forbes Avenue

Pittsburgh, PA 15213-3890

United States

SCHOLARLY PAPERS

22

DOWNLOADS
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9,198

CITATIONS
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Top 2,756

in Total Papers Citations

203

Scholarly Papers (22)

1.

Equity Trading in the 21st Century

Marshall School of Business Working Paper No. FBE 09-10
Number of pages: 54 Posted: 11 May 2010 Last Revised: 08 Aug 2015
James Angel, Lawrence Harris and Chester S. Spatt
Georgetown University - Department of Finance, University of Southern California - Marshall School of Business - Finance and Business Economics Department and Carnegie Mellon University - David A. Tepper School of Business
Downloads 2,710 (2,332)
Citation 17

Abstract:

Equity markets, transactions costs, dark pools, bid-ask spread

2.

Imperfect Competition in Financial Markets: Island vs Nasdaq

14th Annual Utah Winter Finance Conference Paper; AFA 2004 San Diego Meetings; EFA 2002 Berlin Meetings Presented Paper
Number of pages: 40 Posted: 23 Nov 2003
Bruno Biais, Christophe Bisiere and Chester S. Spatt
Centre for Economic Policy Research (CEPR), Universite de Toulouse - (IDEI - CRG) and Carnegie Mellon University - David A. Tepper School of Business
Downloads 1,246 (11,931)
Citation 8

Abstract:

financial markets, liquidity supply, ECN, Island, NASDAQ

3.

Optimal Asset Location and Allocation with Taxable and Tax-Deferred Investing

Number of pages: 47 Posted: 02 Sep 2001
Robert M. Dammon, Harold H. Zhang and Chester S. Spatt
Carnegie Mellon University, University of Texas at Dallas - Naveen Jindal School of Management and Carnegie Mellon University - David A. Tepper School of Business
Downloads 949 (16,779)
Citation 49

Abstract:

Taxable and tax-deferred investing, Asset location, Asset allocation

4.

Equilibrium Asset Pricing Under Heterogeneous Information

EFA 2004 Maastricht Meetings Paper No. 5083; 13th Annual Utah Winter Finance Conference; AFA 2003 Washington, DC Meetings
Number of pages: 36 Posted: 09 Jun 2004
Bruno Biais, Peter Bossaerts and Chester S. Spatt
Centre for Economic Policy Research (CEPR), Brain, Mind and Markets Laboratory and Carnegie Mellon University - David A. Tepper School of Business
Downloads 800 (22,882)
Citation 20

Abstract:

5.

Optimal Consumption and Investment with Capital Gains Taxes

Review of Financial Studies, Vol. 14, No. 3, pp. 583-616, Fall 2001
Number of pages: 34 Posted: 30 Sep 2001
Robert M. Dammon, Harold H. Zhang and Chester S. Spatt
Carnegie Mellon University, University of Texas at Dallas - Naveen Jindal School of Management and Carnegie Mellon University - David A. Tepper School of Business
Downloads 449 (49,982)
Citation 53

Abstract:

Capital gains taxes; Optimal consumption and investment policies; Diversification and tax costs; Reset provision

6.

Taxes, Estate Planning and Financial Theory: New Insights and Perspectives

AFA 2005 Philadelphia Meetings Paper
Number of pages: 26 Posted: 12 Jan 2005
Robert M. Dammon, Chester S. Spatt and Harold H. Zhang
Carnegie Mellon University, Carnegie Mellon University - David A. Tepper School of Business and University of Texas at Dallas - Naveen Jindal School of Management
Downloads 445 (49,031)

Abstract:

7.

Diversification and Capital Gains Taxes with Multiple Risky Assets

Number of pages: 42 Posted: 02 Sep 2001
Robert M. Dammon, Harold H. Zhang and Chester S. Spatt
Carnegie Mellon University, University of Texas at Dallas - Naveen Jindal School of Management and Carnegie Mellon University - David A. Tepper School of Business
Downloads 351 (67,385)
Citation 13

Abstract:

Optimal portfolio, Capital gains taxes, Multiple risky assets, Diversification

8.

Opacity, Credit Rating Shopping and Bias

Management Science, Forthcoming
Number of pages: 51 Posted: 14 Mar 2012 Last Revised: 10 Jun 2016
Francesco Sangiorgi and Chester S. Spatt
Swedish House of Finance and Carnegie Mellon University - David A. Tepper School of Business
Downloads 327 (75,296)
Citation 6

Abstract:

credit rating agencies; ratings shopping; selective disclosure; rational expectations; opacity; ratings bias

9.

A Solution to the Palm - 3Com Spin-Off Puzzles

Columbia Business School Research Paper No. 12/52
Number of pages: 24 Posted: 05 Sep 2012 Last Revised: 04 Sep 2013
Martin Cherkes, Charles M. Jones and Chester S. Spatt
NYU, Columbia Business School - Finance and Economics and Carnegie Mellon University - David A. Tepper School of Business
Downloads 265 (70,625)

Abstract:

10.

Interim News and the Role of Proxy Voting Advice

Review of Financial Studies, Vol. 23, No. 12, 2010
Number of pages: 36 Posted: 27 Sep 2010 Last Revised: 30 Dec 2010
Securities and Exchange Commission (SEC), Georgia State University - Department of Finance, Carnegie Mellon University - David A. Tepper School of Business and Carnegie Mellon University - David A. Tepper School of Business
Downloads 136 (157,975)
Citation 14

Abstract:

Corporate Governance, Shareholder Voting, Proxy Contests, Proxy Advice

11.

The Microstructure of Stock Markets

CEPR Discussion Paper No. 3288
Number of pages: 62 Posted: 30 Apr 2002
Bruno Biais, Lawrence R. Glosten and Chester S. Spatt
Centre for Economic Policy Research (CEPR), Columbia Business School - Finance and Economics and Carnegie Mellon University - David A. Tepper School of Business
Downloads 134 (179,118)
Citation 7
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Abstract:

Market microstructure, liquidity, bid-ask spread, market design, transactions costs

12.

Bid-Ask Spreads, Trading Networks and the Pricing of Securitizations

Review of Financial Studies, Forthcoming.
Number of pages: 64 Posted: 09 Sep 2014 Last Revised: 13 Jan 2017
Burton Hollifield, Artem Neklyudov and Chester S. Spatt
Carnegie Mellon University - David A. Tepper School of Business, HEC Lausanne and SFI and Carnegie Mellon University - David A. Tepper School of Business
Downloads 115 (105,517)

Abstract:

Securitization; sophisticated investors; Rule 144A; network analysis; price discovery; OTC markets; bid-ask spreads; core dealers; peripheral dealers

Banks’ Internal Capital Markets and Deposit Rates

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, Fisher College of Business Working Paper No. 2015-03-16, Charles A. Dice Center Working Paper No. 2015-16
Number of pages: 53 Posted: 20 Aug 2015 Last Revised: 29 Jul 2016
Itzhak Ben-David, Ajay A. Palvia and Chester S. Spatt
Ohio State University - Fisher College of Business, Finance Department, Government of the United States of America - Office of the Comptroller of the Currency (OCC) and Carnegie Mellon University - David A. Tepper School of Business
Downloads 86 (247,925)

Abstract:

Banks, deposit rates, market discipline, internal capital market, branches

Banks’ Internal Capital Markets and Deposit Rates

NBER Working Paper No. w21526
Number of pages: 53 Posted: 08 Sep 2015
Itzhak Ben-David, Ajay A. Palvia and Chester S. Spatt
Ohio State University - Fisher College of Business, Finance Department, Government of the United States of America - Office of the Comptroller of the Currency (OCC) and Carnegie Mellon University - David A. Tepper School of Business
Downloads 6 (540,602)
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Abstract:

14.

Do Complex Economies Require Complex Financial Systems?

46th Annual AREUEA Conference Paper
Number of pages: 1 Posted: 01 Dec 2010
Duke University Fuqua School of Business, Carnegie Mellon University - David A. Tepper School of Business, Princeton University - Department of Economics and University of Maryland
Downloads 88 (225,885)

Abstract:

15.

The Role of Advisory Services in Proxy Voting

NBER Working Paper No. w15143
Number of pages: 54 Posted: 21 Jul 2009
Securities and Exchange Commission (SEC), Georgia State University - Department of Finance, Carnegie Mellon University - David A. Tepper School of Business and Carnegie Mellon University - David A. Tepper School of Business
Downloads 77 (235,534)
Citation 16

Abstract:

16.

Online Appendix to 'Opacity, Credit Rating Shopping and Bias'

Number of pages: 22 Posted: 08 May 2013 Last Revised: 30 Jun 2015
Francesco Sangiorgi and Chester S. Spatt
Swedish House of Finance and Carnegie Mellon University - David A. Tepper School of Business
Downloads 25 (410,807)

Abstract:

17.

Security Market Manipulation

Annual Review of Financial Economics, Vol. 6, pp. 405-418, 2014
Posted: 25 Nov 2014
Chester S. Spatt
Carnegie Mellon University - David A. Tepper School of Business

Abstract:

18.

Taxes and Investment Choice

Annual Review of Financial Economics, Vol. 4, pp. 411-429, 2012
Posted: 04 Nov 2012
Robert M. Dammon and Chester S. Spatt
Carnegie Mellon University and Carnegie Mellon University - David A. Tepper School of Business

Abstract:

19.

Current Issues in Financial Regulation: Views from the Shadow Financial Regulatory Committee

Midwest Finance Association 2012 Annual Meetings Paper
Posted: 17 Jan 2012
George G. Kaufman, Edward J. Kane and Chester S. Spatt
Loyola University Chicago, Boston College - Department of Finance and Carnegie Mellon University - David A. Tepper School of Business

Abstract:

20.

An Informal Perspective on the Economics and Regulation of Securities Markets

Annual Review of Financial Economics, Vol. 2, pp. 127-143, 2010
Posted: 12 Nov 2010
Chester S. Spatt
Carnegie Mellon University - David A. Tepper School of Business

Abstract:

21.

The Optimal Trading and Pricing of Securities with Asymmetric Capital Gains Taxes and Transaction Costs

REVIEW OF FINANCIAL STUDIES, Vol. 9 No. 3
Posted: 23 Oct 1996
Robert M. Dammon and Chester S. Spatt
Carnegie Mellon University and Carnegie Mellon University - David A. Tepper School of Business

Abstract:

An Empirical Analysis of the Limit Order Book and the Order Flow in the Paris Bourse

J. OF FINANCE, Vol. 50 No. 5, December 1995
Posted: 29 Nov 1995
Bruno Biais, Pierre Hillion and Chester S. Spatt
Centre for Economic Policy Research (CEPR), INSEAD - Finance and Carnegie Mellon University - David A. Tepper School of Business

Abstract:

An Empirical Analysis of the Limit Order Book and the Order Flow in the Paris Bourse

Posted: 17 Oct 1994
Bruno Biais, Pierre Hillion and Chester S. Spatt
Centre for Economic Policy Research (CEPR), INSEAD - Finance and Carnegie Mellon University - David A. Tepper School of Business

Abstract: