Price Formation,
Information
and Equilibrium.

Public order flow does not just move price; it resets continuation margin. Links adverse signed flow, price discovery, depth withdrawal, and forced deleveraging.

Distinguishes rational cancellation from deceptive intent and derives the benefits—and limits—of using profit-source evidence in enforcement.

Reframes FIFO priority as state-contingent adverse-selection exposure, linking fill toxicity, cancellation, hidden effective rank, and Kyle / Back information states.

Shows how information, liquidity, and trend-following pressure shape return predictability across horizons, with evidence from the same firms trading on the NSE and BSE.

Characterizes exactly when Jamshidian's decomposition survives in multifactor exponential-affine models: bond loadings must lie on a common positive ray. Near that boundary, projected one-factor strikes yield an upper bound with explicit error control.

Submitted to Finance Research Letters. Uses 417 matched green bonds across 30 countries to study how long-term orientation and uncertainty avoidance shape greenium heterogeneity.