P. Joakim Westerholm

University of Sydney Business School

Cnr. of Codrington and Rose Streets

Sydney, NSW 2006

Australia

SCHOLARLY PAPERS

46

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Scholarly Papers (46)

1.
Downloads 5,771 ( 1,813)

Non-Standard Errors

University of St.Gallen, School of Finance Research Paper No. 2021/17
Number of pages: 56 Posted: 23 Nov 2021 Last Revised: 08 Apr 2022
Albert J. Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Michael Razen, Utz Weitzel, David Abad, Menachem (Meni) Abudy, Tobias Adrian, Yacine Ait-Sahalia, Olivier Akmansoy, Jamie Alcock, Vitali Alexeev, Arash Aloosh, Livia Amato, Diego Amaya, James Angel, Amadeus Bach, Edwin Baidoo, Gaetan Bakalli, Andrea Barbon, Oksana Bashchenko, Parampreet Christopher Bindra, Geir Hoidal Bjonnes, Jeff Black, Bernard S. Black, Santiago Bohorquez, Oleg Bondarenko, Charles S. Bos, Ciril Bosch-Rosa, Elie Bouri, Christian T. Brownlees, Anna Calamia, Viet Nga Cao, Gunther Capelle-Blancard, Laura Capera, Massimiliano Caporin, Allen Carrion, Tolga Caskurlu, Bidisha Chakrabarty, Mikhail Chernov, William M. Cheung, Ludwig B. Chincarini, Tarun Chordia, Sheung Chi Chow, Benjamin Clapham, Jean-Edouard Colliard, Carole Comerton-Forde, Edward Curran, Thong Dao, Wale Dare, Ryan J. Davies, Riccardo De Blasis, Gianluca De Nard, Fany Declerck, Oleg Deev, Hans Degryse, Solomon Deku, Christophe Desagre, Mathijs A. Van Dijk, Chukwuma Dim, Thomas Dimpfl, Yunjiang Dong, Philip Drummond, Tom Dudda, Ariadna Dumitrescu, Teodor Dyakov, Anne Haubo Dyhrberg, Michał Dzieliński, Asli Eksi, Izidin El Kalak, Saskia ter Ellen, Nicolas Eugster, Martin D.D. Evans, Michael Farrell, Ester Félez-Viñas, Gerardo Ferrara, El Mehdi FERROUHI, Andrea Flori, Jonathan Fluharty-Jaidee, Sean Foley, Kingsley Y. L. Fong, Thierry Foucault, Tatiana Franus, Francesco A. Franzoni, Bart Frijns, Michael Frömmel, Servanna Fu, Sascha Füllbrunn, Baoqing Gan, Thomas Gehrig, Dirk Gerritsen, Javier Gil-Bazo, Lawrence R. Glosten, Thomas Gomez, Arseny Gorbenko, Ufuk Güçbilmez, Joachim Grammig, Vincent Gregoire, Björn Hagströmer, Julien Hambuckers, Erik Hapnes, Jeffrey H. Harris, Lawrence Harris, Simon Hartmann, Jean-Baptiste Hasse, Nikolaus Hautsch, Xuezhong He, Davidson Heath, Simon Hediger, Terrence Hendershott, Ann Marie Hibbert, Erik Hjalmarsson, Seth A. Hoelscher, Peter Hoffmann, Craig W. Holden, Alex R. Horenstein, Wenqian Huang, Da Huang, Christophe Hurlin, Alexey Ivashchenko, Subramanian R. Iyer, Hossein Jahanshahloo, Naji Jalkh, Charles M. Jones, Simon Jurkatis, Petri Jylha, Andreas Kaeck, Gabriel Kaiser, Arzé Karam, Egle Karmaziene, Bernhard Kassner, Markku Kaustia, Ekaterina Kazak, Fearghal Kearney, Vincent van Kervel, Saad Khan, Marta Khomyn, Tony Klein, Olga Klein, Alexander Klos, Michael Koetter, Jan Pieter Krahnen, Aleksey Kolokolov, Robert A. Korajczyk, Roman Kozhan, Amy Kwan, Quentin Lajaunie, FY Eric C Lam, Marie Lambert, Hugues Langlois, Jens Lausen, Tobias Lauter, Markus Leippold, Vladimir Levin, Yijie Li, (Michael) Hui Li, Chee Yoong Liew, Thomas Lindner, Oliver B. Linton, Jiacheng Liu, Anqi Liu, Guillermo Llorente, Matthijs Lof, Ariel Lohr, Francis A. Longstaff, Alejandro Lopez-Lira, Shawn Mankad, Nicola Mano, Alexis Marchal, Charles Martineau, Francesco Mazzola, Debrah Meloso, Roxana Mihet, Vijay Mohan, Sophie Moinas, David Moore, Liangyi Mu, Dmitriy Muravyev, Dermot Murphy, Gabor Neszveda, Christian Neumeier, Ulf Nielsson, Mahendrarajah Nimalendran, Sven Nolte, Lars L. Norden, Peter O'Neill, Khaled Obaid, Bernt Arne Ødegaard, Per Östberg, Marcus Painter, Stefan Palan, Imon Palit, Andreas Park, Roberto Pascual, Paolo Pasquariello, Lubos Pastor, Vinay Patel, Andrew J. Patton, Neil D. Pearson, Loriana Pelizzon, Matthias Pelster, Christophe Pérignon, Cameron Pfiffer, Richard Philip, Tomáš Plíhal, Puneet Prakash, Oliver-Alexander Press, Tina Prodromou, Tālis J. Putniņš, Gaurav Raizada, David A. Rakowski, Angelo Ranaldo, Luca Regis, Stefan Reitz, Thomas Renault, Rex Wang Renjie, Roberto Renò, Steven Riddiough, Kalle Rinne, Paul Rintamäki, Ryan Riordan, Thomas Rittmannsberger, Iñaki Rodríguez-Longarela, Dominik Rösch, Lavinia Rognone, Brian Roseman, Ioanid Rosu, Saurabh Roy, Nicolas Rudolf, Stephen Rush, Khaladdin Rzayev, Aleksandra Rzeźnik, Anthony Sanford, Harikumar Sankaran, Asani Sarkar, Lucio Sarno, O. Scaillet, Stefan Scharnowski, Klaus Reiner Schenk-Hoppé, Andrea Schertler, Michael Schneider, Florian Schroeder, Norman Schürhoff, Philipp Schuster, Marco A. Schwarz, Mark S. Seasholes, Norman Seeger, Or Shachar, Andriy Shkilko, Jessica Shui, Mario Sikic, Giorgia Simion, Lee A. Smales, Paul Söderlind, Elvira Sojli, Konstantin Sokolov, Laima Spokeviciute, Denitsa Stefanova, Marti G. Subrahmanyam, Sebastian Neusüss, Barnabas Szaszi, Oleksandr Talavera, Yuehua Tang, Nicholas Taylor, Wing Wah Tham, Erik Theissen, Julian Thimme, Ian Tonks, Hai Tran, Luca Trapin, Anders B. Trolle, Giorgio Valente, Robert A. Van Ness, Aurelio Vasquez, Thanos Verousis, Patrick Verwijmeren, Anders Vilhelmsson, Grigory Vilkov, Vladimir Vladimirov, Sebastian Vogel, Stefan Voigt, Wolf Wagner, Thomas Walther, Patrick Weiss, Michel van der Wel, Ingrid M. Werner, P. Joakim Westerholm, Christian Westheide, Evert Wipplinger, Michael Wolf, Christian C. P. Wolff, Leonard Wolk, Wing-Keung Wong, Jan Wrampelmeyer, Shuo Xia, Dacheng Xiu, Ke Xu, Caihong Xu, Pradeep K. Yadav, José Yagüe, Cheng Yan, Antti Yang, Woongsun Yoo, Wenjia Yu, Shihao Yu, Bart Z. Yueshen, Darya Yuferova, Marcin Zamojski, Abalfazl Zareei, Stefan Zeisberger, S. Sarah Zhang, Xiaoyu Zhang, Zhuo Zhong, Z. Ivy Zhou, Chen Zhou, Xingyu Sonya Zhu, Marius Zoican, Remco C. J. Zwinkels, Jian Chen, Teodor Duevski, Ge Gao, Roland Gemayel, Dudley Gilder, Paul Kuhle, Emiliano Pagnotta, Michele Pelli, Jantje Sönksen, Lu Zhang, Konrad Ilczuk, Dimitar Bogoev, Ya Qian, Hans C. Wika, Yihe Yu, Lu Zhao, Michael Mi, Li Bao, Andreea Vaduva, Marcel Prokopczuk, Marcel Prokopczuk, Alejandro Avetikian and Zhen-Xing Wu
Vrije Universiteit Amsterdam, Stockholm School of Economics - Department of Economics, University of Innsbruck - Department of Economics, University of Innsbruck, Stockholm School of Economics - Department of Economics, University of Innsbruck, University of Innsbruck, VU University Amsterdam, Universidad de Alicante, Bar-Ilan University - Graduate School of Business Administration, International Monetary Fund, Princeton University - Department of Economics, CNRS, University of Oxford, University of Technology Sydney, Neoma Business School, University of Chicago - Booth School of Business, Wilfrid Laurier University, Georgetown University - Department of Finance, University of Mannheim, Tennessee Technological University, EM Lyon (Ecole de Management de Lyon) - Emlyon Business School, University of St. Gallen, Swiss Finance Institute - HEC Lausanne, University of Innsbruck, BI Norwegian Business School, University of Memphis, Northwestern University - Pritzker School of Law, Universidad EAFIT, University of Illinois at Chicago - Department of Finance, VU University Amsterdam, Technische Universität Berlin, Lebanese American University, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences, Toulouse Business School - TBS Education, Monash University, Université Paris I Panthéon-Sorbonne - Centre d'Economie de la Sorbonne (CES), Vrije Universiteit Amsterdam, University of Padua - Department of Statistical Sciences, University of Memphis - Fogelman College of Business and Economics, University of Amsterdam Business School, Saint Louis University - Richard A. Chaifetz School of Business, UCLA Anderson, Waseda University, University of San Francisco, Emory University - Department of Finance, Australian National University (ANU), Goethe University Frankfurt Faculty of Economics and Business Administration, HEC Paris - Finance Department, University of Melbourne - Department of Finance, Macquarie University - Faculty of Business and Economics, Nottingham Trent University, University of Liège - HEC Liège, Babson College - Finance Division, Polytechnic University of Marche - Department of Management, University of Zurich - Department of Banking and Finance, Universite de Toulouse 1 Capitole, Masaryk University, KU Leuven - Faculty of Business and Economics (FEB), Nottingham Trent University - Nottingham Business School, Catholic University of Louvain (UCL) - Louvain Finance (LFIN), Erasmus University Rotterdam (EUR), Frankfurt School of Finance & Management, University of Hohenheim, Queen's University (Canada), Queen's School of Business, Students, Monash University, Technische Universität Dresden, ESADE Business School, EDHEC Business School, The University of Sydney - Discipline of Finance, Stockholm Business School, Stockholm University, Salisbury University - Perdue School of Business, Cardiff Business School, Norges Bank, University of Queensland - Business School, Georgetown University - Department of Economics, University of Virginia - Darden School of Business, University of Technology Sydney, Bank of England, Ibn Tofail University, Politecnico di Milano, Public Company Accounting Oversight Board, Macquarie University, University of New South Wales - School of Banking and Finance, HEC Paris - Finance Department, City University London - Bayes Business School, Universita della Svizzera italiana (USI Lugano), Open University of the Netherlands - School of Management, Ghent University - Department of Financial Economics, University of Essex, Radboud University Nijmegen - Institute for Management Research, University of Technology Sydney, University of Vienna, Utrecht University - School of Economics, Universitat Pompeu Fabra, Columbia University, Utrecht University, Monash University - Department of Banking and Finance, University of Glasgow - Adam Smith Business School, University of Tuebingen, HEC Montreal - Department of Finance, Stockholm University - Stockholm Business School, University of Liège - HEC Liège, Aalto University, American University - Department of Finance and Real Estate, University of Southern California - Marshall School of Business - Finance and Business Economics Department, Vienna University of Economics and Business, Aix-Marseille University - Aix-Marseille School of Economics, University of Vienna - Department of Statistics and Operations Research, Xi'an Jiaotong-Liverpool University (XJTLU), University of Utah - David Eccles School of Business, University of Zurich - Department of Banking and Finance, University of California, Berkeley - Haas School of Business, West Virginia University - Department of Finance, University of Gothenburg - Centre for Finance, Missouri State University - College of Business, European Central Bank (ECB), Indiana University - Kelley School of Business - Department of Finance, University of Miami - School of Business Administration - Department of Economics, Bank for International Settlements, University of Utah - David Eccles School of Business, University of Orleans, VU University Amsterdam, University of New Mexico, Cardiff University, Saint Joseph University, Columbia University, Bank of England, Aalto University, University of Sussex, Universite du Luxembourg, Durham University, VU University Amsterdam, Ludwig-Maximilians-Universität München, Aalto University, University of Manchester, Queen's University Belfast - Queen's Management School, Pontifical Catholic University of Chile, HEC Montreal, University of Adelaide, Queen's University Belfast - Queen's Management School, University of Warwick - Warwick Business School, University of Kiel - Institute for Quantitative Business and Economics Research (QBER), Halle Institute for Economic Research, Goethe University Frankfurt, University of Manchester - Manchester Business School, Northwestern University - Kellogg School of Management, University of Warwick - Warwick Business School, University of New South Wales (UNSW), Square Research Center, Independent Consultant, University of Liège - HEC Liège, HEC Paris - Finance Department, Goethe University Frankfurt - Faculty of Economics and Business Administration, Leibniz University Hannover, University of Zurich, Universite du Luxembourg, S&P Global Ratings, La Trobe University, UCSI University, Malaysia, Vienna University of Economics and Business, University of Cambridge, Purdue University, The University of Sydney, Universidad Autonoma de Madrid, Aalto University, Arizona State University (ASU) - Finance Department, University of California, Los Angeles (UCLA) - Finance Area, University of Florida - Department of Finance, Insurance and Real Estate, North Carolina State University - Department of Business Management, Swiss Finance Institute - USI Lugano, EPFL, University of Toronto - Rotman School of Management and UTSC Management, Erasmus University Rotterdam (EUR), Toulouse Business School - TBS Education, Swiss Finance Institute - HEC Lausanne, RMIT University, Universite de Toulouse 1 Capitole, Loyola Marymount University, Queen's University Belfast, Michigan State University - Department of Finance, University of Illinois at Chicago, John von Neumann University - MNB Institute, Macquarie University, Copenhagen Business School, University of Florida - Department of Finance, Insurance and Real Estate, Radboud University, Stockholm University - Stockholm Business School, Financial Conduct Authority, California State University-East Bay, University of Stavanger, University of Zurich - Department of Banking and Finance, Saint Louis University - Department of Finance, University of Graz, RMIT University - Blockchain Innovation Hub, University of Toronto at Mississauga, Universidad de las Islas Baleares, University of Michigan, Stephen M. Ross School of Business, University of Chicago - Booth School of Business, University of Technology Sydney (UTS), Duke University - Department of Economics, University of Illinois at Urbana-Champaign - Department of Finance, Goethe University Frankfurt - Faculty of Economics and Business Administration, Paderborn University, HEC Paris - Finance Department, University of Oregon - Department of Finance, University of Sydney Business School, Masaryk University - Department of finance, Missouri State University, Copenhagen Business School, The University of Wollongong, University of Technology Sydney (UTS), Indian Institute of Management, Ahmedabad, University of Texas at Arlington, University of St. Gallen, University of Turin, University of Kiel, Université Paris I Panthéon-Sorbonne - Centre d'Economie de la Sorbonne (CES), VU University Amsterdam, University of Verona - Department of Economics, University of Toronto, Universite du Luxembourg - Department of Finance, Aalto University, Queen's University - Smith School of Business, University of Innsbruck, Stockholm University - Stockholm Business School, State University of New York at Buffalo - School of Management, University of Manchester - Alliance Manchester Business School, Oklahoma State University - Department of Finance, HEC Paris - Finance Department, University of Massachusetts Amherst, University of Lausanne, Bowling Green State University - Department of Finance, University of Edinburgh, York University - Schulich School of Business, HEC Montreal - Department of Finance, New Mexico State University, Federal Reserve Bank of New York, University of Cambridge - Judge Business School, Swiss Finance Institute - University of Geneva, University of Mannheim, University of Manchester - Department of Economics, University of Graz, Deutsche Bundesbank, Macquarie University, Swiss Finance Institute - HEC Lausanne, University of Stuttgart, Heinrich Heine University Dusseldorf - Duesseldorf Institute for Competition Economics (DICE), Arizona State University (ASU), VU University Amsterdam, Federal Reserve Bank of New York, Wilfrid Laurier University - Lazaridis School of Business and Economics, Federal Housing Finance Agency, University of Zurich, Vienna University of Economics and Business, University of Western Australia, University of St. Gallen, UNSW Australia Business School, School of Banking and Finance, University of Memphis - Fogelman College of Business and Economics, Cardiff University, Universite du Luxembourg, New York University (NYU) - Leonard N. Stern School of Business, Aalto University, Eötvös Loránd University, University of Birmingham, University of Florida - Department of Finance, University of Bristol - School of Economics, Finance and Management, University of New South Wales (UNSW), University of Mannheim - Finance Area, Karlsruhe Institute of Technology, University of Bristol, Loyola Marymount University - Department of Finance, University of Bologna, Copenhagen Business School, Hong Kong Institute for Monetary and Financial Research (HKIMR), University of Mississippi - Department of Finance, Instituto Tecnológico Autónomo de México (ITAM) - Department of Business Administration, University of Essex, Erasmus University Rotterdam (EUR), Lund University - Department of Economics, Frankfurt School of Finance & Management, University of Amsterdam Business School, Erasmus University Rotterdam (EUR), University of Copenhagen, Erasmus University Rotterdam (EUR), Utrecht University - School of Economics, Vienna University of Economics and Business - Department of Finance, Accounting & Statistics, Erasmus University Rotterdam, The Ohio State University - Fisher College of Business, University of Sydney Business School, University of Vienna - Department of Finance, Vrije Universiteit Amsterdam, School of Business and Economics, University of Zurich - Department of Economics, University of Luxembourg, VU University Amsterdam, Asia University, Department of Finance, Vrije Universiteit Amsterdam, School of Business and Economics, Halle Institute for Economic Research, University of Chicago - Booth School of Business, University of Victoria, Stockholm University - Stockholm Business School, University of Oklahoma Price College of Business, University of Murcia, University of Essex - Essex Business School, Erasmus University Rotterdam, Central Michigan University, Aalto University, VU University Amsterdam, INSEAD - Finance, Norwegian School of Economics (NHH) - Department of Finance, University of Gothenburg, Centre for Finance, Stockholm University, Radboud University, Institute for Management Research, University of Manchester - Alliance Manchester Business School, VU University Amsterdam, University of Melbourne - Department of Finance, University of Wollongong - School of Accounting, Economics & Finance, Erasmus University Rotterdam (EUR), Bank for International Settlements (BIS), University of Toronto at Mississauga - Department of Management, VU University Amsterdam - Department of Finance and Financial Sector Management, Queen's University, HEC Paris, University of Birmingham, King's College London, Cardiff University, Universidad Autonoma de Madrid, Singapore Management University, University of Zurich - Department of Banking and Finance, University of Tübingen, University of Luxembourg, affiliation not provided to SSRN, EDF Energy, United Kingdom, Aalto University, Norges Bank, University at Buffalo, SUNY, Southwestern University of Finance and Economics (SWUFE), The University of Sydney, University of Toulouse Capitole, UC3M, University of Reading - ICMA CentreLeibniz Universität Hannover - Faculty of Economics and Management, Pontifical Catholic University of Chile and Zhongnan University of Economics and Law - School of Finance
Downloads 5,771 (1,887)

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non-standard errors, multi-analyst approach, liquidity

2.

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 596 (64,327)

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

3.

Informed Trading Through the Accounts of Children

Journal of Finance, Forthcoming
Number of pages: 81 Posted: 07 Jun 2012 Last Revised: 20 Feb 2013
Henk Berkman, Paul D. Koch and P. Joakim Westerholm
University of Auckland Business School, Iowa State University - Finance Department and University of Sydney Business School
Downloads 486 (82,891)
Citation 11

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Individual investors, informed trading, insider trading, information asymmetry, market efficiency, PIN

4.

Inside the Director Network: When Directors Trade Inside, Interlock, and Unconnected Stocks

Number of pages: 76 Posted: 14 Apr 2014 Last Revised: 23 Nov 2017
Henk Berkman, Paul D. Koch and P. Joakim Westerholm
University of Auckland Business School, Iowa State University - Finance Department and University of Sydney Business School
Downloads 446 (91,810)

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Informed trading, insider trading, information asymmetry, market efficiency, interlocking board, corporate director network, family network, social network analysis

5.

Are Algorithmic Trades Informed? - An Empirical Analysis of Algorithmic Trading Around Earnings Announcements

27th Australasian Finance and Banking Conference 2014 Paper
Number of pages: 46 Posted: 22 Aug 2012 Last Revised: 15 Sep 2015
The University of Sydney - Discipline of Finance, The University of Wollongong, George Mason University - Department of Finance, University of Sydney Business School and Discipline of Finance, The University of Sydney
Downloads 435 (94,478)
Citation 2

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algorithmic trades [AT], execution algorithms, earnings announcements

6.

The Impact of Retail Investors on Stock Liquidity and Crash Risk

Number of pages: 40 Posted: 14 Dec 2021 Last Revised: 04 Aug 2022
Felix Hüfner, Jan-Oliver Strych and P. Joakim Westerholm
Karlsruhe Institute of Technology, Karlsruhe Institute of Technology - Institute for Finance and University of Sydney Business School
Downloads 419 (98,686)

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liquidity provision, stock price crash risk, COVID-19, retail investors, Robinhood

7.

Liquidity and Price Discovery of Algorithmic Trading: An Intraday Analysis of the SPI 200 Futures

24th Australasian Finance and Banking Conference 2011 Paper
Number of pages: 40 Posted: 22 Aug 2011 Last Revised: 16 Nov 2014
Tina Prodromou, Hui Zheng and P. Joakim Westerholm
The University of Wollongong, Discipline of Finance, The University of Sydney and University of Sydney Business School
Downloads 417 (99,182)

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Algorithmic Trading, Futures Markets, Market Liquidity, Price Discovery

8.

'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 398 (104,715)
Citation 1

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

9.

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 270 (158,720)
Citation 4

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

10.

Investor Behavior at the 52 Week High

9th Conference on Financial Markets and Corporate Governance (FMCG) 2018
Number of pages: 45 Posted: 18 Aug 2017 Last Revised: 22 Jul 2021
Joshua Della Vedova, Andrew R. Grant and P. Joakim Westerholm
The University of San Diego, University of Sydney Business School - Discipline of Finance and University of Sydney Business School
Downloads 238 (179,659)
Citation 2

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52 week high, order submission, household behavior

11.

Retail Trading Activity and Major Lifecycle Events: The Case of Divorce

FIRN Research Paper Forthcoming, Journal of Banking and Finance, Forthcoming
Number of pages: 70 Posted: 04 Jun 2014 Last Revised: 21 Dec 2021
University of Sydney Business School - Discipline of Finance, La Trobe Business School, University of California, Los Angeles (UCLA) - Finance Area and University of Sydney Business School
Downloads 231 (184,767)

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Individual Investors, Divorce Performance, Trading Behavior

12.

The Impact of Actual Market Wide Short Selling Restrictions and Liquidity Constraints During the Financial Crisis of 2008

22nd Australasian Finance and Banking Conference 2009
Number of pages: 19 Posted: 24 Aug 2009
Md Ahmed Mostafa and P. Joakim Westerholm
affiliation not provided to SSRN and University of Sydney Business School
Downloads 228 (187,040)

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short selling restrictions

13.

Do Household Investors Intensify Momentum Returns?

29th Australasian Finance and Banking Conference 2016
Number of pages: 38 Posted: 22 Aug 2016 Last Revised: 22 Jul 2021
Joshua Della Vedova, Andrew R. Grant and P. Joakim Westerholm
The University of San Diego, University of Sydney Business School - Discipline of Finance and University of Sydney Business School
Downloads 224 (190,189)

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Momentum, 52 Week High, Disposition Effect, limit order

14.

Personal Trading by Brokers, Analysts, and Fund Managers

Number of pages: 65 Posted: 08 Nov 2018
Henk Berkman, Paul Koch and P. Joakim Westerholm
University of Auckland Business School, Iowa State University and University of Sydney Business School
Downloads 221 (192,741)

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informed trading, information asymmetry, leakage, front running, tipping, insider trades, block trades, social networks, broker, analyst, fund manager, institutional investor

15.

Are Poison Pills Poison for Shareholders? Evidence from Japan

Number of pages: 27 Posted: 27 Jan 2009 Last Revised: 31 Jan 2009
Kazuo Kato, Joel Fabre and P. Joakim Westerholm
Osaka University of Economics, affiliation not provided to SSRN and University of Sydney Business School
Downloads 204 (207,642)
Citation 1

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Japan, keiretsu, takeover defense, poison pill, ownership structure

16.

Liquidity and Price Impact at the 52 Week High

Number of pages: 38 Posted: 06 Nov 2021
Joshua Della Vedova, Andrew R. Grant and P. Joakim Westerholm
The University of San Diego, University of Sydney Business School - Discipline of Finance and University of Sydney Business School
Downloads 200 (211,417)

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Liquidity, Individual Investors, Limit Orders

17.

An Empirical Analysis of Strategic Behaviour Models

Number of pages: 41 Posted: 03 Feb 2005
University of Melbourne - Department of Finance, University of Queensland - Business SchoolSchroder Investment Management Limited and University of Sydney Business School
Downloads 190 (221,277)
Citation 1

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Informed trading, liquidity trading, strategic behaviour, intraday patterns

18.

Fool's Mate: What Does CHESS Tell Us About Individual Investor Trading Performance?

CIFR Paper No. 80/2015
Number of pages: 47 Posted: 07 Oct 2015
Reza Bradrania, Andrew R. Grant, P. Joakim Westerholm and Wei Wu
University of South Australia - UniSA Business School, University of Sydney Business School - Discipline of Finance, University of Sydney Business School and The University of Sydney
Downloads 183 (228,594)

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Individual investors, institutional investors, short-term reversals, liquidity

19.

Insiders’ Profits in the Australian Equities Market

CIFR Paper No. 108/2016
Number of pages: 37 Posted: 03 May 2016
Henk Berkman, Reza Bradrania, Tina Prodromou and P. Joakim Westerholm
University of Auckland Business School, University of South Australia - UniSA Business School, The University of Wollongong and University of Sydney Business School
Downloads 163 (252,137)

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Insider Trading, CAAR

20.

Order Splitting and Interacting with a Counterparty

Number of pages: 64 Posted: 30 Jan 2020 Last Revised: 22 Sep 2020
Vincent van Kervel, Amy Kwan and P. Joakim Westerholm
Pontifical Catholic University of Chile, University of New South Wales (UNSW) and University of Sydney Business School
Downloads 143 (280,361)
Citation 2

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Order splitting, Signalling, Liquidity

21.

Institutional Trading and Asset Pricing

Journal of Banking and Finance, forthcoming
Number of pages: 57 Posted: 29 Nov 2014 Last Revised: 24 Apr 2018
Bart Frijns, Thanh Huynh, Alireza Tourani-Rad and P. Joakim Westerholm
Open University of the Netherlands - School of Management, Monash University - Department of Banking and Finance, Auckland University of Technology - Faculty of Business & Law and University of Sydney Business School
Downloads 135 (293,184)

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intermediary asset pricing, institutional trading, investor preferences, CAPM

22.

High Frequency Trading, Market Volatility and Trading Counterparty Performance

29th Australasian Finance and Banking Conference 2016
Number of pages: 36 Posted: 23 Aug 2016 Last Revised: 07 Dec 2016
P. Joakim Westerholm
University of Sydney Business School
Downloads 132 (298,164)

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high frequency trading, counterparty performance

23.

Information Processing Skills of Short Sellers

Number of pages: 52 Posted: 14 Jan 2021 Last Revised: 17 Mar 2022
Levy Schattmann, Jan-Oliver Strych and P. Joakim Westerholm
Karlsruhe Institute of Technology - Institute for Finance, Karlsruhe Institute of Technology - Institute for Finance and University of Sydney Business School
Downloads 119 (321,835)

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short sales; healthcare; Covid-19, information processing skills; private information

24.

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 115 (329,622)
Citation 3

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transparency, anonymity, market efficiency, market quality

25.

Foreign Investors' Reaction to Reduced Profitability - Does Governance Matter?

Number of pages: 40 Posted: 29 May 2007
Tom Berglund and P. Joakim Westerholm
Hanken School of Economics - Department of Economics and University of Sydney Business School
Downloads 115 (329,622)

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profit warnings, home bias, moral hazard

26.

Who Moves First? Price Discovery by Institutional and Retail Investors.

Number of pages: 55 Posted: 01 Oct 2015
Zheng Wu, P. Joakim Westerholm and Shumi M. Akhtar
The University of Sydney, University of Sydney Business School and The University of Sydney
Downloads 99 (364,637)

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Price Discovery

27.

International Trading Patterns and Investor Performance

Number of pages: 50 Posted: 25 May 2007
P. Joakim Westerholm
University of Sydney Business School
Downloads 99 (364,637)

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Investor performance, Momentum, Contrarian, Home Bias

28.

Contrarians or Momentum Chasers? Individual Investors’ Behavior When Trading ETFs

Forthcoming, The Journal of Futures Markets
Number of pages: 38 Posted: 23 Oct 2018 Last Revised: 26 Oct 2018
Carlo Da Dalt, David Feldman, Gerald T. Garvey and P. Joakim Westerholm
Investec, Banking and Finance, UNSW Business School, UNSW Sydney, Blackrock and University of Sydney Business School
Downloads 95 (374,191)

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ETF, Momentum, Contrarian, Household, Behavior

29.

Imputation Credits and Trading Around Ex-Dividend Day: New Evidence in Australia

31st Australasian Finance and Banking Conference 2018
Number of pages: 34 Posted: 30 Jul 2018
Andrew R. Grant, P. Joakim Westerholm and Winston Wu
University of Sydney Business School - Discipline of Finance, University of Sydney Business School and University of Sydney, Business School, Discipline of Finance, Students
Downloads 89 (389,695)
Citation 2

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Dividend imputation; Ex-dividend day; Dividend Clientele

30.

Asset Pricing Anomalies and the State Ownership Effect in China's Domestic Stock Market

30th Australasian Finance and Banking Conference 2017
Number of pages: 28 Posted: 30 Jun 2017
Henry Zhang, Stephen E. Satchell and P. Joakim Westerholm
The University of Sydney, Business School, Discipline of Finance, University of Cambridge - Faculty of Economics and Politics and University of Sydney Business School
Downloads 83 (406,404)

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State Owned Enterprise, risk factor, risk premia, value, size, momentum and sector premia

31.

Do Uninformed Crossed and Internalised Trades Tap into Unexpressed Liquidity?

Number of pages: 49 Posted: 25 May 2007
P. Joakim Westerholm
University of Sydney Business School
Downloads 70 (446,934)

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crossing, internalisation, upstairs, limit order book, market quality

32.

The Idiosyncratic Volatility Anomaly and the Resale Option in Chinese Stock Markets

Number of pages: 42 Posted: 21 Nov 2018 Last Revised: 29 Nov 2018
Zhiguang Cao, Stephen Satchell, P. Joakim Westerholm and Henry Zhang
Shanghai University of Finance and Economics - Department of Finance, The University of Sydney, University of Sydney Business School and The University of Sydney, Business School, Discipline of Finance
Downloads 67 (457,276)

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Idiosyncratic Volatility, Resale Option, China

33.

Trading Skills of Mutual Fund Managers: Evidence Based on Daily Transactions

Number of pages: 57 Posted: 22 Jul 2020 Last Revised: 10 Feb 2022
Rene Weh, P. Joakim Westerholm, Marco Wilkens and Juan Yao
University of Augsburg - Department of Finance and Banking, University of Sydney Business School, University of Augsburg and University of Sydney - Business School - Finance Discipline
Downloads 65 (464,269)

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Mutual funds, trading, performance, manager skill

34.

Do CEO Investors Engage in More Corporate Innovation?

2015 Financial Markets & Corporate Governance Conference
Number of pages: 40 Posted: 30 Jan 2015
Reza Bradrania, P. Joakim Westerholm and James Yeoh
University of South Australia - UniSA Business School, University of Sydney Business School and The University of Sydney
Downloads 65 (464,269)

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Compensation, Corporate innovation, CEO trades

35.

Reference Price Formation for Packaged Transactions

Number of pages: 13 Posted: 29 Aug 2012
Andrew R. Grant and P. Joakim Westerholm
University of Sydney Business School - Discipline of Finance and University of Sydney Business School
Downloads 48 (533,262)

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36.

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 43 (557,023)
Citation 1

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

37.

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 32 (616,950)

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

38.

Industry Clustering in Nordic Initial Public Offering Markets

International Review of Finance, Vol. 6, No. 1-2, pp. 25-41, March/June 2006
Number of pages: 17 Posted: 02 May 2007
P. Joakim Westerholm
University of Sydney Business School
Downloads 20 (701,470)
Citation 1

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39.

Do CEOs Who Trade Shares Adopt More Aggressive Corporate Investment Strategies?

Pacific-Basin Finance Journal, Vol. 40, 2016
Number of pages: 49 Posted: 18 Nov 2021
Reza Bradrania, P. Joakim Westerholm and James Yeoh
University of South Australia - UniSA Business School, University of Sydney Business School and The University of Sydney
Downloads 13 (761,027)

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CEO risk aversion, CEO compensation

40.

Foreign Investors' Reaction to Lower Profitability – the Role of Information Asymmetry

International Review of Finance, Vol. 10, Issue 4, pp. 455-483, December 2010
Number of pages: 29 Posted: 17 Nov 2010
Tom Berglund and P. Joakim Westerholm
Hanken School of Economics - Department of Economics and University of Sydney Business School
Downloads 3 (862,736)

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41.

Foreign Investors' Reaction to Lower Profitability the Role of Information Asymmetry

International Review of Finance, Vol. 10, No. 4, pp. 455-483, 2010
Number of pages: 29 Posted: 01 Jan 2011
Tom Berglund and P. Joakim Westerholm
Hanken School of Economics - Department of Economics and University of Sydney Business School
Downloads 2 (875,625)

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42.

Do Uninformed Crossed and Internalized Trades Tap into Unexpressed Liquidity? The Case of Nokia

Accounting & Finance, Vol. 49, Issue 2, pp. 407-424, June 2009
Number of pages: 18 Posted: 20 May 2009
P. Joakim Westerholm
University of Sydney Business School
Downloads 1 (890,016)

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43.

Analyst Tipping: Evidence on Finnish Stocks

International Review of Financial Analysis, Vol. 66: 1-12. (2019)
Posted: 07 Dec 2017 Last Revised: 12 May 2020
Ruiqi Mao, Reuben Segara and P. Joakim Westerholm
University of Sydney Business School, University of Sydney Business School and University of Sydney Business School

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analyst upgrades, analyst downgrades, tipping

44.

Determinants of Household Broker Choice and the Impact on Performance

28th Australasian Finance and Banking Conference
Posted: 21 Aug 2015 Last Revised: 22 Jul 2019
Kingsley Y. L. Fong, Juliane Krug, Henry Leung and P. Joakim Westerholm
University of New South Wales - School of Banking and Finance, Technical University of Darmstadt, University of Sydney Business School and University of Sydney Business School

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broker choice, demographics, household investor

45.

An International Trend in Market Design: Endogenous Effects of Limit Order Book Transparency on Volatility, Spreads, Depth and Volume

Journal of International Financial Markets, Institutions and Money 27, 202-223.
Posted: 25 Sep 2013 Last Revised: 14 Jun 2020
Thu Phuong Pham and P. Joakim Westerholm
Curtin University and University of Sydney Business School

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Transparency, Broker ID, Market Quality, Limit Order Book

46.

The Role of Trading Intensity Estimating the Implicit Bid-Ask Spread and Determining Transitory Effects

Posted: 06 May 2010 Last Revised: 07 Jul 2011
Bernard Ben Sita and P. Joakim Westerholm
Lebanese American University and University of Sydney Business School

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Transaction costs, ACD, Volatility, Information Asymmetry