{"id":89142,"date":"2001-02-03T00:00:00","date_gmt":"2001-02-03T00:00:00","guid":{"rendered":"https:\/\/www.deberes.net\/tesis\/sin-categoria\/microestructura-de-los-mercados-financieros-negociacion-informacion-asimetrica-y-liquidez\/"},"modified":"2001-02-03T00:00:00","modified_gmt":"2001-02-03T00:00:00","slug":"microestructura-de-los-mercados-financieros-negociacion-informacion-asimetrica-y-liquidez","status":"publish","type":"post","link":"https:\/\/www.deberes.net\/tesis\/ciencias-economicas\/microestructura-de-los-mercados-financieros-negociacion-informacion-asimetrica-y-liquidez\/","title":{"rendered":"Microestructura de los mercados financieros. negociacion, informacion asimetrica y liquidez"},"content":{"rendered":"<h2>Tesis doctoral de <strong> Roberto Pascual Gasco <\/strong><\/h2>\n<p>Esta tesis profundiza en el metodo de analisis y en el conocimiento de tres conceptos fundamentales en microestructura: la liquidez, la formacion de los precios y los costes de selecci\u00f3n adversa. Se propone una nueva medida de liquidez (blm) que captura cambios simultaneos de costes de inmediatez y profundidad, y que aporta nueva evidencia sobre el comportamiento de la liquidez en el nyse. Se propone un modelo estructural dinamica para la formacion de las cotizaciones ask y bid, cuya forma empirica reducida generaliza el modelo econometrico mas utilizado en la literatura. Se evidencian asimetrias en la respuesta de ambas cotizaciones a shocks en el proceso de negociacion y diferencias en el contenido informativo medio de shocks de compra y venta para activos del nyse. Finalmente, se propone un procedimiento dinamico de estimacion de los costes de selecci\u00f3n adversa especificos para cada transaccion ejecutada. Se observan diferencias en el comportamiento del mercado en el cortoplazo tras una transaccion y en el tiempo de incorporacion de la informacion contenida en una transaccion a los precios en funcion del riesgo por asimetrias de informacion, y se evidencia una posible infraestimacion de los costes de selecci\u00f3n adversa por los modelos estructurales.<\/p>\n<p>&nbsp;<\/p>\n<h3>Datos acad\u00e9micos de la tesis doctoral \u00ab<strong>Microestructura de los mercados financieros. negociacion, informacion asimetrica y liquidez<\/strong>\u00ab<\/h3>\n<ul>\n<li><strong>T\u00edtulo de la tesis:<\/strong>\u00a0 Microestructura de los mercados financieros. negociacion, informacion asimetrica y liquidez <\/li>\n<li><strong>Autor:<\/strong>\u00a0 Roberto Pascual Gasco <\/li>\n<li><strong>Universidad:<\/strong>\u00a0 Carlos III de Madrid<\/li>\n<li><strong>Fecha de lectura de la tesis:<\/strong>\u00a0 02\/03\/2001<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Direcci\u00f3n y tribunal<\/h3>\n<ul>\n<li><strong>Director de la tesis<\/strong>\n<ul>\n<li>Alvaro Escribano Saez<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tribunal<\/strong>\n<ul>\n<li>Presidente del tribunal: Juan  ignacio Pe\u00f1a s\u00e1nchez de rivera <\/li>\n<li>enrique Sentana iva\u00f1ez (vocal)<\/li>\n<li>gonzalo Rubio irigoyen (vocal)<\/li>\n<li>Manuel Campa jose (vocal)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesis doctoral de Roberto Pascual Gasco Esta tesis profundiza en el metodo de analisis y en el conocimiento de tres [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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