Robert A. Schwartz

Baruch College - CUNY

Marvin M. Speiser Professor of Finance

Zicklin School of Business

17 Lexington Avenue

New York, NY 10010

United States

  • Baruch College - CUNY

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    • Tel: 646-312-3467
    • Fax: 646-312-3530
SCHOLARLY PAPERS

20

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109

Scholarly Papers (20)

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1.

Quote Setting and Price Formation in an Order Driven Market

Downloads 1,144 (39,956)
Citation 15

Quote Setting and Price Formation in an Order Driven Market

Number of pages: 42 Posted: 05 Jul 1999
Puneet Handa, Robert A. Schwartz and Ashish Tiwari
University of Iowa - Department of Finance, Baruch College - CUNY and University of Iowa
Downloads 1,144 (39,332)
Citation 15

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Quote Setting and Price Formation in an Order Driven Market

Posted: 14 Aug 2002
Ashish Tiwari, Robert A. Schwartz and Puneet Handa
University of Iowa, Baruch College - CUNY and University of Iowa - Department of Finance

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Price Formation, Order driven market, Limit order trading

2.

Building a Better Stock Market: New Solutions to Old Problems

Number of pages: 32 Posted: 25 Sep 2000
Robert A. Schwartz
Baruch College - CUNY
Downloads 871 (58,595)
Citation 4

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3.

Resiliency and Stock Returns

The Review of Financial Studies, Volume 33, Issue 2, February 2020, Pages 747–782, https://doi.org/10.1093/rfs/hhz048, Baruch College Zicklin School of Business Research Paper No. 2018-08-02
Number of pages: 74 Posted: 18 Aug 2018 Last Revised: 08 Sep 2020
Jian Hua, Lin Peng, Robert A. Schwartz and Nazli Sila Alan
City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance, City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance, Baruch College - CUNY and Fairfield University - Charles F. Dolan School of Business
Downloads 708 (77,159)
Citation 7

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Stock Returns, Resiliency, Liquidity, Price Discovery, Asset Pricing

4.

Equity Market Microstructure: Taking Stock of What We Know - The Road from Theory to a Real Marketplace is Indeed Bumpy

Journal of Portfolio Management, Fall 2008
Number of pages: 32 Posted: 04 Mar 2008 Last Revised: 02 Oct 2008
Reto Francioni, Sonali Hazarika, Robert A. Schwartz and Martin Reck
Deutsche Börse AG, Zicklin School of Business, Department of Economics and Finance, Baruch College - The City University of New York, Baruch College - CUNY and Deutsche Börse AG
Downloads 641 (87,565)

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microstructure

5.

The Dynamic Process of Price Discovery in an Equity Market

Number of pages: 40 Posted: 26 Mar 2008
Jacob Paroush, Robert A. Schwartz and Avner Wolf
Bar-Ilan University - Department of Economics, Baruch College - CUNY and Baruch College
Downloads 549 (106,542)
Citation 4

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6.

A Call Auction’s Impact on Price Formation and Order Routing: Evidence from the NASDAQ Stock Market

Number of pages: 55 Posted: 27 Mar 2008 Last Revised: 17 Apr 2021
Michael S. Pagano, Lin Peng and Robert A. Schwartz
Villanova University - Villanova School of Business, City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance and Baruch College - CUNY
Downloads 449 (136,029)
Citation 12

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opening price, closing price, price discovery, intra-day volatility, market microstructure, equity markets, call auction, NASDAQ

7.

Market Sidedness: Insights into Motives for Trade Initiation

FRB of New York Staff Report No. 292
Number of pages: 56 Posted: 20 Mar 2007
Robert A. Schwartz and Asani Sarkar
Baruch College - CUNY and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 443 (138,271)
Citation 22

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Trade initiation, sidedness, asymmetric information, heterogeneous beliefs, differential information, demand for immediacy, earnings, macroecnomic announcements, merger news

8.

Limit Order Trading

Downloads 408 (152,064)
Citation 24

Limit Order Trading

NYU Working Paper No. FIN-94-035
Number of pages: 48 Posted: 11 Nov 2008
Puneet Handa and Robert A. Schwartz
University of Iowa - Department of Finance and Baruch College - CUNY
Downloads 408 (150,531)
Citation 24

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Limit Order Trading

J. OF FINANCE, Vol. 51 No. 5, December 1996
Posted: 19 Mar 1997
Puneet Handa and Robert A. Schwartz
University of Iowa - Department of Finance and Baruch College - CUNY

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9.

Trading, Price Setting and Volatility in Equity Markets Under Divergent Expectations and Adaptive Valuations

Number of pages: 36 Posted: 31 Aug 2006
Jacob Paroush, Robert A. Schwartz and Avner Wolf
Bar-Ilan University - Department of Economics, Baruch College - CUNY and Baruch College
Downloads 308 (206,934)
Citation 2

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Trading, price discovery, volatility, equity markets, divergent expectations, adaptive valuations, and market structure

10.

The Economic Value of a Trading Floor: Evidence from the American Stock Exchange

Downloads 269 (238,206)
Citation 2

The Economic Value of a Trading Floor: Evidence from the American Stock Exchange

Number of pages: 37 Posted: 20 Jul 2002
Ashish Tiwari, Robert A. Schwartz and Puneet Handa
University of Iowa, Baruch College - CUNY and University of Iowa - Department of Finance
Downloads 269 (236,686)
Citation 2

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Floor trading, Automated trading, Execution costs

The Economic Value of a Trading Floor: Evidence from the American Stock Exchange

Posted: 14 Aug 2002
Ashish Tiwari, Robert A. Schwartz and Puneet Handa
University of Iowa, Baruch College - CUNY and University of Iowa - Department of Finance

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Floor trading, Automated trading, Execution costs

11.

Not Held Orders: Evidence on the Value of Order Timing in an Equity Market

Number of pages: 42 Posted: 11 Dec 2000
Puneet Handa, Robert A. Schwartz and Ashish Tiwari
University of Iowa - Department of Finance, Baruch College - CUNY and University of Iowa
Downloads 255 (251,406)
Citation 2

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Price impact, order timing, trading floor

12.

Combining Quote-Driven and Order-Driven Trading Systems in Next-Generation Stock Markets: an Experimental Investigation

NYU Working Paper No. 2451/14136
Number of pages: 30 Posted: 13 Oct 2008
Robert A. Schwartz and Bruce W. Weber
Baruch College - CUNY and City University of New York (CUNY) - Baruch College
Downloads 251 (255,515)

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13.

Two-Sided Markets and Intertemporal Trade Clustering: Insights into Trading Motives

FRB of New York Staff Report No. 246
Number of pages: 56 Posted: 15 May 2006
Robert A. Schwartz and Asani Sarkar
Baruch College - CUNY and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 241 (265,886)
Citation 3

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two-sided markets, trade clustering, trading motives, equity markets, volatility, trading costs

14.

Electronic Call Market Trading

JOURNAL OF PORTFOLIO MANAGEMENT Vol 21, No 3, Spring 1995, NYU Stern School of Business EC-93-19
Number of pages: 10 Posted: 25 Aug 1998
Nicholas Economides and Robert A. Schwartz
New York University - Leonard N. Stern School of Business - Department of Economics and Baruch College - CUNY
Downloads 239 (268,010)
Citation 10

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15.

Divergent Expectations: When Investors Agree to Disagree

Number of pages: 24 Posted: 08 Mar 2007
Michael S. Pagano, Paul Davis and Robert A. Schwartz
Villanova University - Villanova School of Business, Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF) and Baruch College - CUNY
Downloads 200 (317,583)
Citation 2

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market microstructure, asset valuation, heterogeneous expectations, theory

16.

Equity Trading Practices and Market Structure: Assessing Asset Managers' Demand for Immediacy

NYU Working Paper No. EC-95-08
Number of pages: 52 Posted: 03 Nov 2008
Nicholas Economides and Robert A. Schwartz
New York University - Leonard N. Stern School of Business - Department of Economics and Baruch College - CUNY
Downloads 184 (342,889)

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17.

Order Integration and the Dynamic Behavior of Security Prices

Number of pages: 47 Posted: 12 Mar 2014 Last Revised: 18 Mar 2016
Turan G. Bali, Jian Hua, Robert A. Schwartz and Gregory Sipress
Georgetown University - McDonough School of Business, City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance, Baruch College - CUNY and TraderEx LLC
Downloads 165 (377,480)

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stock return distribution, tail thickness, excess kurtosis, mixture of distributions, time-varying volatility

18.

From Theory to Application: Using Simulation to Better Understand Price Determination in a Non-Frictionless Equity Market

Number of pages: 35 Posted: 14 Nov 2016
Jian Hua, Robert A. Schwartz and Gregory Sipress
City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance, Baruch College - CUNY and TraderEx LLC
Downloads 97 (569,335)

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simulation analysis, stock return distribution, tail thickness, excess kurtosis, mixture of distributions, market structure, call auctions, continuous trading

19.

A Liquidity Program to Stabilize Equity Markets

The Journal of Portfolio Management Winter 2015, 41 (2) 113-125, https://doi.org/10.3905/jpm.2015.41.2.113
Posted: 20 May 2019 Last Revised: 24 Jun 2020
Nazli Sila Alan, John Mask and Robert A. Schwartz
Fairfield University - Charles F. Dolan School of Business, Deutsche Börse AG and Baruch College - CUNY

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Liquidity, stabilization, equity markets

20.

Life after the Big Board Goes Electronic

Financial Analysts Journal, Vol. 62, No. 5, pp. 14-20, October 2006
Posted: 09 Oct 2006
Michael S. Pagano, Robert A. Schwartz and Paul Davis
Villanova University - Villanova School of Business, Baruch College - CUNY and Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF)

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Financial Markets, Market Structure and Organizations, Investment Industry, Future Directions and Sources of Change