Stefan Huber

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Stefan Huber, Edward Watts, Christina Zhu (Working), Information Flows in Trading Networks. Abstract
We study the informational value of trading networks in over-the-counter (OTC) markets. Using detailed transaction-level data from the corporate bond market, we show that investors with larger dealer networks make superior trading decisions before changes in credit fundamentals and yield better risk-adjusted performance. We trace these investors’ superior trading decisions to trading connections where dealers are most likely to have access to novel credit-relevant information, supporting the interpretation that these investors obtain private information through their larger trading networks. Collectively, our evidence highlights the importance of trading relationships for investors’ private information acquisition.

ACCT1010 - Acct & Financial Report
This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long term liabilities. The course emphasizes the construction of the basic financial accounting statements - the income statement, balance sheet, and cash flow statement - as well as their interpretation.

Stefan Huber, Edward Watts, Christina Zhu (Working), Information Flows in Trading Networks.

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Knowledge @ Wharton - 2025/12/18