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The price discovery process (also called price discovery mechanism) is the process of determining the price of an asset in the marketplace through the interactions of buyers and sellers.〔Equity Markets in Action: The Fundamentals of Liquidity, Market Structure & Trading, Robert A. Schwartz, Reto Francioni, John Wiley and Sons, 2004〕 ==Overview== Price discovery is different from valuation. Price discovery process involves buyers and sellers arriving at a transaction price for a specific item at a given time. It involves the following: 〔http://agecon.okstate.edu/pricing/ Pricing and Price discovery Issues〕 * Buyers and seller (number, size, location, and valuation perceptions) * Market mechanism (bidding and settlement process, liquidity) * Available information (amount, timeliness, significance and reliability) including * * futures and other related markets * Risk management choices. "Market" is a broad term that covers buyers, sellers and even sentiment. A single market will have one or more execution venue. The execution venue is where the trades are executed. This could be in the street for a street market, or increasingly it could be an electronic or "virtual" venue. Examples of virtual execution venues include NASDAQ, The London Metal Exchange, NYSE, London Stock Exchanges. After the 2001 Enron scandal, the Sarbanes–Oxley Act tightened accounting rules regarding the "mark to market" method, requiring that only recently discovered prices be used. The intention of this change was to stop companies overvaluing the assets they held. Each night (or reporting period) they would have to take a recently discovered market price obtained from two or more market observers. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「price discovery」の詳細全文を読む スポンサード リンク
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