Dr. Jeff Black, assistant professor, Department of Finance, Insurance, & Real Estate of the University of Memphis Fogelman College of Business & Economics, recently had a paper accepted in the Journal of Banking & Finance. The paper was authored in collaboration with former Memphis Ph.D. student Olena Nikolsko-Rzhevska, now professor of practice at Lehigh University. The paper was the first to reconstruct and examine chains of order revisions by recovering data on individual “U”-messages on NASDAQ. “U” revisions is a term used for making revisions on stock purchases.
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