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EXCHANGE LISTING AND STOCK LIQUIDITY

EXCHANGE LISTING AND STOCK LIQUIDITY Two measures are used to estimate the liquidity of stocks that switch their places of trading (from OTC to NYSE, from OTC to AMEX, and from AMEX to NYSE). Using an event‐type methodology, results are obtained that indicate a decline in liquidity for stocks leaving the OTC market. Stocks switching from the AMEX to the NYSE experience an initial increase in liquidity, followed by a decline almost to previous levels. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Financial Research Wiley

EXCHANGE LISTING AND STOCK LIQUIDITY

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References (12)

Publisher
Wiley
Copyright
© The Southern Finance Association and the Southwestern Finance Association
ISSN
0270-2592
eISSN
1475-6803
DOI
10.1111/j.1475-6803.1984.tb00381.x
Publisher site
See Article on Publisher Site

Abstract

Two measures are used to estimate the liquidity of stocks that switch their places of trading (from OTC to NYSE, from OTC to AMEX, and from AMEX to NYSE). Using an event‐type methodology, results are obtained that indicate a decline in liquidity for stocks leaving the OTC market. Stocks switching from the AMEX to the NYSE experience an initial increase in liquidity, followed by a decline almost to previous levels.

Journal

The Journal of Financial ResearchWiley

Published: Dec 1, 1984

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