Does market structure matter?
We document that bid-ask spreads and volatitility decrease for stocks that moved from Nasdaq to the New York Stock Exchange (NYSE), even after the 1997 market reforms. Somewhat surprising in light of these reforms, the spread reductions are most apparent for stocks where Nasdaq liquidity providers r...
| Main Authors: | , |
|---|---|
| Format: | Book Chapter |
| Published: |
John Wiley & Sons, Inc.
2008
|
| Online Access: | http://hdl.handle.net/20.500.11937/7882 |