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

SCHOLARLY PAPERS

20

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CITATIONS
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153

Scholarly Papers (20)

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 939 (23,097)
Citation 6

Abstract:

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Quote Setting and Price Formation in an Order Driven Market

Journal of Financial Markets, Forthcoming
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

AEI-Brookings Joint Center Working Paper No. 00-03
Number of pages: 32 Posted: 25 Sep 2000
Robert A. Schwartz
Baruch College - CUNY
Downloads 744 (32,605)
Citation 3

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3.

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 493 (55,967)

Abstract:

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microstructure

4.

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 471 (59,290)

Abstract:

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5.

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 Bank of New York
Downloads 352 (83,818)
Citation 1

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

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: 08 Feb 2013
Michael S. Pagano, Robert A. Schwartz and Lin Peng
Villanova University - Villanova School of Business, Baruch College - CUNY and City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance
Downloads 297 (101,204)
Citation 2

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

7.

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 267 (113,376)
Citation 2

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

8.

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 228 (133,123)
Citation 2

Abstract:

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Price impact, order timing, trading floor

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 223 (135,608)

Abstract:

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Floor trading, Automated trading, Execution costs

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

Journal of Business, Forthcoming
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

10.
Downloads 219 (138,430)
Citation 14

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 219 (138,032)
Citation 14

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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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11.

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 Bank of New York
Downloads 183 (163,631)

Abstract:

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

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 174 (171,192)

Abstract:

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13.

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 158 (186,011)

Abstract:

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14.

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 154 (190,015)

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market microstructure, asset valuation, heterogeneous expectations, theory

15.

Resiliency and Stock Returns

Baruch College Zicklin School of Business Research Paper No. 2018-08-02
Number of pages: 74 Posted: 18 Aug 2018 Last Revised: 15 Feb 2019
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
Downloads 134 (212,832)
Citation 1

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

16.

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 - Robert Emmett 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 121 (230,182)

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

17.

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 103 (258,217)

Abstract:

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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 44 (406,812)

Abstract:

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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

Journal of Portfolio Management, Forthcoming, https://doi.org/10.3905/jpm.1988.409160
Posted: 20 May 2019
Nazli Sila Alan, John Mask and Robert A. Schwartz
Fairfield University, 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