The Effects of Mandatory Transparency in Financial Market Design: Evidence from the Corporate Bond Market
---- Acknowledgements -----
We are grateful to Edith Hotchkiss, Leonid Kogan, Deborah Lucas, Jun Pan, and Alp Simsek for discussions, and Ola Persson and FINRA for conversations about the data. We also thank Daniel Green and Ahmad Zia Wahdat for their research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.