Abstract
Recent research in <b><i>The Journal of Portfolio Management</i></b> investigates whether the introduction of TRACE—the US corporate bond pricing program run by the <b>Financial Industry Regulatory Authority (FINRA)</b>—has improved bond-valuation precision and price transparency. This report highlights the practical applications of the research findings. It is based on an in-depth interview with co-author <b>John Merrick, Jr</b>. of the <b>College of William and Mary Raymond A. Mason School of Business</b>.“ Our story here is that market transparency matters, in terms of improving valuations,” he says. Merrick and his co-authors, <b>Gjergji Cici</b> and <b>Scott Gibson</b>, (colleagues at the College of William and Mary), and <b>Yalin Gündüz</b> (of <b>Deutsche Bundesbank</b>), present their findings in <b><i>Market Transparency and the Marking Precision of Bond Mutual Fund Managers</i></b>.
Published Version
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