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Can Stock Price Manipulation be Prevented by Granting More Freedom to Manipulators

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dc.contributor.author İlalan, Deniz
dc.date.accessioned 2024-01-18T11:59:00Z
dc.date.available 2024-01-18T11:59:00Z
dc.date.issued 2015
dc.identifier.citation İlalan, Deniz (2015). "Can Stock Price Manipulation be Prevented by Granting More Freedom to Manipulators", International Journal of Economics and Finance, Vol. 7, No. 3, pp. 179-187. tr_TR
dc.identifier.issn 1916-971X
dc.identifier.issn 1916-9728
dc.identifier.uri http://hdl.handle.net/20.500.12416/6922
dc.description.abstract Allen and Gale (1992) construct a model to show that stock price manipulation is possible. The time structure of their model allows manipulators to pretend as “informed” traders, so that the local investors cannot distinguish what type of entrant they are facing. When the type of the entrant becomes known to the local investors it is already too late to make any use of that information. This paper shows an institution can be designed in a very natural fashion which induces different behaviors on the part of manipulators and “informed” traders at the beginning of the process. The institution designed roughly consists of entitling the entrants to resell stocks at a later date as well if they wish to do so. As this reasoning is also accessible to manipulators, the designed institution deters them from entering the market. Regarding the informed traders, their expected gain from entering the stock market may or may not be positive contingent on the basic parameters of the model. There are cases, however, when there is an improvement in the expected total gain of the local investors. tr_TR
dc.language.iso eng tr_TR
dc.relation.isversionof 10.5539/ijef.v7n3p179 tr_TR
dc.rights info:eu-repo/semantics/closedAccess tr_TR
dc.subject Stock Market tr_TR
dc.subject Manipulation tr_TR
dc.subject Equilibrium Price tr_TR
dc.subject Institutional Design tr_TR
dc.title Can Stock Price Manipulation be Prevented by Granting More Freedom to Manipulators tr_TR
dc.type article tr_TR
dc.relation.journal International Journal of Economics and Finance tr_TR
dc.identifier.volume 7 tr_TR
dc.identifier.issue 3 tr_TR
dc.identifier.startpage 179 tr_TR
dc.identifier.endpage 187 tr_TR
dc.contributor.department Çankaya Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Bankacılık ve Finans Bölümü tr_TR


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