Andreas Park

University of Toronto - Finance Area

Associate Professor

Toronto, Ontario M5S 3E6

Canada

SCHOLARLY PAPERS

13

DOWNLOADS
Rank 6,930

SSRN RANKINGS

Top 6,930

in Total Papers Downloads

5,024

CITATIONS
Rank 17,420

SSRN RANKINGS

Top 17,420

in Total Papers Citations

19

Scholarly Papers (13)

1.

Taxing High Frequency Market Making: Who Pays the Bill?

Number of pages: 48 Posted: 06 Dec 2012 Last Revised: 24 Jun 2016
Katya Malinova, Andreas Park and Ryan Riordan
University of Toronto, University of Toronto - Finance Area and Queen's School of Business
Downloads 811 (13,573)

Abstract:

high frequency trading, message tax, market quality, retail traders

2.

Herding and Contrarian Behavior in Financial Markets

Number of pages: 48 Posted: 13 Jul 2006 Last Revised: 02 Jun 2009
Andreas Park and H. Sabourian
University of Toronto - Finance Area and University of Cambridge - Faculty of Economics and Politics
Downloads 777 (20,823)
Citation 6

Abstract:

Social learning, herding, contrarians, asset price volatility, market transparency

Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality

Journal of Finance, Forthcoming
Number of pages: 44 Posted: 28 Apr 2011 Last Revised: 10 Sep 2014
Katya Malinova and Andreas Park
University of Toronto and University of Toronto - Finance Area
Downloads 274 (86,648)
Citation 4

Abstract:

Liquidity credits, market quality, trading, make/take fees, maker-taker, rebates, bid-ask spread

Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality

Journal of Finance, Forthcoming, AFA 2012 Chicago Meetings Paper
Number of pages: 44 Posted: 21 Mar 2011 Last Revised: 10 Sep 2014
Katya Malinova and Andreas Park
University of Toronto and University of Toronto - Finance Area
Downloads 235 (102,017)
Citation 4

Abstract:

Liquidity credits, market quality, trading, make/take fees, maker-taker, rebates, bid-ask spread

Subsidizing Liquidity: The Impact of Make/Take Fees on Market Quality

Journal of Finance, Forthcoming, Paris December 2011 Finance Meeting EUROFIDAI - AFFI
Number of pages: 44 Posted: 14 Oct 2011 Last Revised: 10 Sep 2014
Katya Malinova and Andreas Park
University of Toronto and University of Toronto - Finance Area
Downloads 72 (262,979)
Citation 4

Abstract:

Liquidity credits, market quality, trading, make/take fees, maker-taker, rebates, bid-ask spread

4.

Dark Trading on Public Exchanges

Number of pages: 45 Posted: 03 Dec 2012 Last Revised: 23 Feb 2013
Sean Foley, Katya Malinova and Andreas Park
University of Sydney, University of Toronto and University of Toronto - Finance Area
Downloads 336 (52,727)
Citation 1

Abstract:

dark trading, midpoint orders, limit order book trading

Liquidity, Volume and Price Efficiency: The impact of order vs. Quote Driven Trading

Journal of Financial Markets, Forthcoming
Number of pages: 39 Posted: 17 Mar 2010 Last Revised: 29 Jul 2012
Katya Malinova and Andreas Park
University of Toronto and University of Toronto - Finance Area
Downloads 183 (130,424)

Abstract:

market microstructure, trading volume, liquidity, dealer market, limit order book

Liquidity, Volume and Price Efficiency: The Impact of Order vs. Quote Driven Trading

EFA 2009 Bergen Meetings Paper
Number of pages: 39 Posted: 19 Feb 2009 Last Revised: 30 Jul 2012
Katya Malinova and Andreas Park
University of Toronto and University of Toronto - Finance Area
Downloads 140 (165,204)

Abstract:

order and quote driven trading, dealer market, execution costs

6.

How Syndicate Short Sales Affect the Informational Efficiency of IPO Prices and Underpricing

Journal of Financial and Quantitative Analysis, Vol. 45, No. 2, pp. 441-471, 2010
Number of pages: 50 Posted: 19 May 2005 Last Revised: 08 Nov 2010
Björn Bartling and Andreas Park
University of Zurich - Department of Economics and University of Toronto - Finance Area
Downloads 289 (78,392)

Abstract:

Initial Public Offering, Aftermarket Trading, Informational Efficiency, Underpricing

7.

The Impact of Competition and Information on Intraday Trading

Number of pages: 39 Posted: 01 Feb 2008 Last Revised: 10 Jan 2014
Katya Malinova and Andreas Park
University of Toronto and University of Toronto - Finance Area
Downloads 284 (81,775)

Abstract:

Trading, Market Participation, Intraday Patterns, Heterogeneous Information

8.

Experiential Learning of the Efficient Market Hypothesis: Two Trading Games

Number of pages: 19 Posted: 14 Sep 2007
Andreas Park
University of Toronto - Finance Area
Downloads 235 (99,405)
Citation 1

Abstract:

9.

Greed, Fear, and Rushes

Number of pages: 43 Posted: 04 Jun 2013 Last Revised: 27 Feb 2015
Axel Anderson, Andreas Park and Lones Smith
Georgetown University - Department of Economics, University of Toronto - Finance Area and University of Wisconsin at Madison - Department of Economics
Downloads 77 (183,483)
Citation 1

Abstract:

Timing Games, Unraveling, Runs, Games with Many Players, Pre-emption, War of Attrition

10.

Caller Number Five: Timing Games that Morph from One Form to Another

Cowles Foundation Discussion Paper No. 1554
Number of pages: 25 Posted: 19 May 2005
Andreas Park and Lones Smith
University of Toronto - Finance Area and University of Wisconsin at Madison - Department of Economics
Downloads 63 (268,628)
Citation 6

Abstract:

Games of timing, war of attrition, preemption game

11.

Market Design with Blockchain Technology

Number of pages: 43 Posted: 30 May 2016 Last Revised: 04 Oct 2016
Katya Malinova and Andreas Park
University of Toronto and University of Toronto - Finance Area
Downloads 0 (41,120)

Abstract:

market design, trading, blockhchain, distributed ledger, transparency

12.

Regulating Dark Trading: Order Flow Segmentation and Market Quality

FIRN Research Paper No. 2755392
Number of pages: 57 Posted: 31 Mar 2016 Last Revised: 05 Sep 2016
University of Melbourne - Department of Finance, University of Toronto and University of Toronto - Finance Area
Downloads 0 (129,153)

Abstract:

dark trading, high frequency trading, retail investors, trade-at rule, price improvement, segmentation, internalization

13.

Trading Volume in Dealer Markets

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Posted: 06 May 2009
Katya Malinova and Andreas Park
University of Toronto and University of Toronto - Finance Area

Abstract:

market microstructure, trading volume, liquidity