The success of option listings

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• 作者：Alejandro Bernales ^{abernales@dii.uchile.cl}
• 关键词：D82 ; G10 ; G14 ; O31
• 刊名：Journal of Empirical Finance
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：40
• 期：Complete
• 页码：139-161
• 全文大小：767 K
• 卷排序：40

文摘

We study which factors predict the ex-post success of stock option introductions. We show that measures of information asymmetries predict option adoption rates. We also report that successful listings themselves end up improving market quality. Successful option listings report a reduction in market information asymmetries. These results are important for an understanding of financial innovation in general.