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| Tekijä: | Ingram, R. Stone, M. Dugan, M. |
| Otsikko: | The effect of trading in eighths on security return behavior |
| Lehti: | Journal of Business Finance and Accounting
1994 : APR, VOL. 21:3, p. 409-427 |
| Asiasana: | TRADE SECURITY USA |
| Kieli: | eng |
| Tiivistelmä: | The paper examines empirically the effect of trading in eighths on security returns, market model betas, and residual returns. The inquiry is timely because the US securities and Exchange Commission (SEC) currently is studying the feasibility of changing the pricing of US securities from dollars and eighths to dollars and cents. The results indicate a systematic relationship between the magnitude of share price and security returns, market model betas, and residual returns. |
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