By: Craig McCann (Dec 2001)
In this paper, Dr. McCann improves upon traditional indicators of churning and demonstrates that, properly calculated, the trading costs estimate of damages closely parallels the well-managed theory, or benchmark portfolio, estimate of damages.
Bid-Ask Spread, Sales Credits and Brokers' Compensation
By: Craig McCann and Richard G. Himelrick (Jun 2001)
In this working paper, co-authored with Richard Himelrick, Esq., Dr. McCann explains the role of market makers and the provision of sales credits as a basis for brokers' compensation.