Pérez-Rodríguez, Jorge VGómez-Déniz, EmilioSosvilla Rivero, Simón2019-05-302019-05-302019https://hdl.handle.net/2445/134118In this paper, we attempt to assess the potential importance of different types of traders (i.e., those with public and private information) in financial markets using a specification of the standardized duration. This approach allows us to test unobserved heterogeneity in a nonlinear version based on a self-exciting threshold autoregressive conditional duration model. We illustrate the relevance of this procedure for identifying the presence of private information in the final days of trading of Banco Popular, the first bank rescued by the European Single Resolution Board.23 p.application/pdfengcc-by-nc-nd, (c) Pérez-Rodríguez et al., 2019http://creativecommons.org/licenses/by-nc-nd/3.0/es/Fallides bancàriesIndicadors econòmicsBank failuresEconomic indicatorsinfo:eu-repo/semantics/workingPaperinfo:eu-repo/semantics/openAccess