Computerization has transformed financial markets with high frequency trading displacing
human activity with proprietary algorithms to lower latency, reduce intermediary costs …

High-frequency trading dominates trading in financial markets. How it affects the low-
frequency trading, however, is still unclear. Using NASDAQ order book data, the authors …

This paper explains the capability theory of how HFT firms make allocation decisions under
uncertainty, and shows how capability maximization is precisely consistent with utility theory …

This paper uses NASDAQ order book data for the S&P 500 exchange traded fund (SPY) to
examine the relationship between one-minute, informational market efficiency and high …

This paper theorises about the behaviour of firms engaged in complex product systems
innovation and engineering under the lean startup/minimum viable product process. In …

Purpose This paper investigates the strategic behavior of algorithmic trading firms from an
innovation economics perspective. The authors seek to uncover the sources of competitive …

Theoretical and empirical analysis of complex innovation and technology from a multi-
disciplinary perspective is often recommended, yet rarely undertaken in management and …

In this paper we take a retrospective look at our paper “Phantom Liquidity and High-
Frequency Quoting” and discuss the context of the research in light of our broader inquiry …