Performance of institutional trading desks : An analysis of persistence in trading costs

@inproceedings{Anand2009PerformanceOI,
  title={Performance of institutional trading desks : An analysis of persistence in trading costs},
  author={Amber Anand},
  year={2009}
}
We contribute to the literature on the performance of financial intermediaries. Using a unique dataset of institutional investors‟ equity transactions, we document that institutional trading desks can sustain relative performance over adjacent periods. We investigate several possible explanations for trading cost persistence including broker selection, investment style, and commissions, and identify a set of trading decisions that are associated with performance. Our findings support the… CONTINUE READING

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