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Time Lags in Processing Market-Sensitive Information: A Case Study
The Journal of Trading
The paper analyses a case study of time lag in processing market-sensitive information with intraday data. On February 2011, the Italian Parliament approved the so called Milleproroghe decree issued by the Government, which included, among others, a new important rule for banks transforming the deferred tax assets into tax credits. Although information on the approval of the law had been available since February 8, on February 15 the market took twelve minutes to react to the news and almost andoi:10.3905/jot.2012.7.4.068 fatcat:nwi4ra4s4zeorc7bvbv6te6xv4