id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cblr-14251	Guan, Sue S.	Securities Fraud and the Market for Individual Stocks: Sue S. Guan	2025	82	.pdf	application/pdf	29085	1218	45	5. Guan - Securities Fraud and the Market for Individual Stocks ARTICLE SECURITIES FRAUD AND THE MARKET FOR INDIVIDUAL STOCKS Sue S. Guan* As long as stock markets have existed, so too have those who invest for idiosyncratic reasons unrelated to achieving financial returns. [Vol. 2025 As a result, stocks exhibit a horizontal demand curve and no market for individual stocks should exist.89 The primary microstructure-driven understanding of price discovery in stock markets also reflects this linear relationship between financial, material information and investor behavior.	cache/cblr-14251.pdf	txt/cblr-14251.txt