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The present paper analyzes effects of order imbalance on daily returns of German stocks.
In this paper, we investigated effects of order flow imbalance on daily returns of German stocks.
There were no significant effects of ORDER revealed by post hoc Tukey's tests (p = 0.085 for CS and p = 0.964 for MP).
This paper is the first study to examine effects of order flow imbalance on returns of stocks traded on the German Xetra trading system on a daily basis.
If information on canceled limit orders had been available for our dataset, effects of order imbalance would have been even more pronounced.
Table 1 Effects of order imbalance on subsequent price changes implied by theoretical models Component effect Direction Bid-ask bounce Inventory holding + Induced order arrival Adverse selection + Serial correlation +.
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In addition, the effects of order-disorder transition on the properties of P1−xBCO cathodes have also been discussed.
Effects of ordering of questions on accuracy score.
b) No effect of order and partner type on the social reference point.
There was no significant effect of order of treatment administration on any outcome variable.
There was no effect of Scanning-order (a), or effect of partner type (e.g., prosocial-prosocial; prosocial-individualist; individualist-prosocial; individualist-individualist), i.e., no main effect of Order or interaction effect between Order and Social Disposition on the prosociality index (b).
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