@article {1969186,
	title = {What makes when-issued trading attractive to financial markets?},
	journal = {Financial Markets, Institutions and Instruments},
	volume = {23},
	year = {2014},
	month = {2014},
	pages = {245-271},
	abstract = {When-issued trading is the trading of securities prior to the actual issue of the security. When-issued trading is active around the world and in a variety of equity and bond markets. In this survey, we provide a general description of when-issued trading, analyze benefits and costs in various financial markets, present existing theoretical models and predictions, and synthesize empirical findings. We find that when-issued trading promotes price discovery, mitigates information asymmetry, provides convenience for trading ahead of the actual issue of the security, and in some markets reduces volatility. In addition, we offer policy implications and suggest directions for further research in this area.},
	keywords = {Finance},
	author = {Brooks,Raymond and Kim,Yong H and Yang,Jimmy}
}
@article {1969196,
	title = {When-issued trading in the Indian IPO market},
	journal = {Journal of Financial Markets},
	volume = {19},
	year = {2014},
	month = {2014},
	pages = {170-196},
	keywords = {Finance},
	author = {Brooks,Raymond and Mathew,Prem and Yang,Jimmy}
}
@article {1969211,
	title = {When-Issued Shares, Small Trades and the Variance of Returns around Stock Splits},
	journal = {Journal of Financial Research},
	volume = {27},
	year = {2004},
	month = {2004},
	pages = {415-433},
	abstract = {The increases in volatility after stock splits have long puzzled researchers. The usual suspects of discreteness and bid-ask spread do not provide a complete explanation. We provide new clues to solve this mystery by examining the trading of when-issued shares that are available before the split. When-issued trading permits noise traders to compete with a more homogenous set of traders, decreasing the volatility of the stock before the split. Following the split, these noise traders reunite in one market and volatility increases. Thus, the higher volatility after the ex date of a stock split is a function of the introduction of when-issued trading, the new lower price level after the split date, and the increased activity of small-volume traders around a stock split.},
	keywords = {Finance},
	author = {Angel,James and Brooks,Raymond and Mathew,Prem}
}
@article {1976586,
	title = {When-Issued Shares, Small Traders and the Variance of Returns around Stock Splits},
	year = {1999},
	month = {1999},
	address = {New York, NY},
	keywords = {Finance},
	author = {Brooks,Raymond and Angel,James J. and Mathew,Prem}
}
