메뉴 건너뛰기




Volumn 52, Issue 4, 1997, Pages 1615-1640

Does the specialist matter? Differential execution costs and intersecurity subsidization on the New York stock exchange

Author keywords

[No Author keywords available]

Indexed keywords


EID: 0010805785     PISSN: 00221082     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1540-6261.1997.tb01123.x     Document Type: Article
Times cited : (49)

References (29)
  • 1
    • 0040455704 scopus 로고
    • Performance evaluation of New York stock exchange specialists
    • Barnea, Amir, 1974, Performance evaluation of New York Stock Exchange specialists, Journal of Financial and Quantitative Analysis 9, 511-534.
    • (1974) Journal of Financial and Quantitative Analysis , vol.9 , pp. 511-534
    • Barnea, A.1
  • 3
    • 0005886269 scopus 로고
    • Contestability: Developments since the book
    • Baumol, William, and Robert Willig, 1986, Contestability: Developments since the book, Oxford Economic Papers 38 (Supplement), 9-36.
    • (1986) Oxford Economic Papers , vol.38 , Issue.SUPPL. , pp. 9-36
    • Baumol, W.1    Willig, R.2
  • 6
    • 0040898818 scopus 로고    scopus 로고
    • Liquidity, information, and infrequently traded stocks
    • Easley, David, Nicholas Kiefer, Maureen O'Hara, and Joseph Paperman, 1996, Liquidity, information, and infrequently traded stocks, Journal of Finance 51, 1405-1436.
    • (1996) Journal of Finance , vol.51 , pp. 1405-1436
    • Easley, D.1    Kiefer, N.2    O'Hara, M.3    Paperman, J.4
  • 7
    • 0000562199 scopus 로고
    • Subsidy-free prices and anonymous equity
    • Faulhaber, Gerald, and Stephen Levinson, 1981, Subsidy-free prices and anonymous equity, American Economic Review 71, 1083-1091.
    • (1981) American Economic Review , vol.71 , pp. 1083-1091
    • Faulhaber, G.1    Levinson, S.2
  • 8
    • 0000836177 scopus 로고
    • Estimation of the bid-ask spread and its components: A new approach
    • George, Thomas, Gautam Kaul, and M. Nimalendran, 1991, Estimation of the bid-ask spread and its components: A new approach, Review of Financial Studies 4, 623-656.
    • (1991) Review of Financial Studies , vol.4 , pp. 623-656
    • George, T.1    Kaul, G.2    Nimalendran, M.3
  • 9
    • 38249030378 scopus 로고
    • Estimating the components of the bid/ask spread
    • Glosten, Lawrence, and Lawrence Harris, 1988, Estimating the components of the bid/ask spread, Journal of Financial Economics 21, 123-142.
    • (1988) Journal of Financial Economics , vol.21 , pp. 123-142
    • Glosten, L.1    Harris, L.2
  • 10
    • 84977725243 scopus 로고
    • Liquidity and market structure
    • Grossman, Sanford, J., and Merton Miller, 1988, Liquidity and market structure, Journal of Finance 43, 617-637.
    • (1988) Journal of Finance , vol.43 , pp. 617-637
    • Grossman, S.J.1    Miller, M.2
  • 11
    • 0000414660 scopus 로고
    • Large sample properties of generalized method of moments estimators
    • Hansen, Lars, 1982, Large sample properties of generalized method of moments estimators, Econometrica 50, 1029-1054.
    • (1982) Econometrica , vol.50 , pp. 1029-1054
    • Hansen, L.1
  • 12
    • 21344483536 scopus 로고
    • Minimum price variations, discrete bid-ask spreads, and quotation sizes
    • Harris, Lawrence, 1994, Minimum price variations, discrete bid-ask spreads, and quotation sizes, Review of Financial Studies 7, 149-178.
    • (1994) Review of Financial Studies , vol.7 , pp. 149-178
    • Harris, L.1
  • 13
    • 0000731575 scopus 로고
    • Trades, quotes, inventories, and information
    • Hasbrouck, Joel, 1988, Trades, quotes, inventories, and information, Journal of Financial Economics 22, 229-252.
    • (1988) Journal of Financial Economics , vol.22 , pp. 229-252
    • Hasbrouck, J.1
  • 14
    • 84993869051 scopus 로고
    • The trades of market makers: An empirical analysis of NYSE specialists
    • Hasbrouck, Joel, and George Sofianos, 1993, The trades of market makers: An empirical analysis of NYSE specialists, Journal of Finance 48, 1565-1593.
    • (1993) Journal of Finance , vol.48 , pp. 1565-1593
    • Hasbrouck, J.1    Sofianos, G.2
  • 15
    • 0001913087 scopus 로고
    • Optimal dealer pricing under transactions and return uncertainty
    • Ho, Thomas, and Hans Stoll, 1981, Optimal dealer pricing under transactions and return uncertainty, Journal of Financial Economics 9, 47-73.
    • (1981) Journal of Financial Economics , vol.9 , pp. 47-73
    • Ho, T.1    Stoll, H.2
  • 16
    • 21344495701 scopus 로고
    • Market microstructure and stock return predictions
    • Huang, Roger, and Hans Stoll, 1994, Market microstructure and stock return predictions, Review of Financial Studies 7, 179-214.
    • (1994) Review of Financial Studies , vol.7 , pp. 179-214
    • Huang, R.1    Stoll, H.2
  • 18
    • 0030191637 scopus 로고    scopus 로고
    • Dealer versus auction markets: A paired comparison of execution costs on Nasdaq and the NYSE
    • Huang, Roger, and Hans Stoll, 1996, Dealer versus auction markets: A paired comparison of execution costs on Nasdaq and the NYSE, Journal of Financial Economics 41, 313-358.
    • (1996) Journal of Financial Economics , vol.41 , pp. 313-358
    • Huang, R.1    Stoll, H.2
  • 19
    • 21844485615 scopus 로고
    • Trade size and components of the bid-ask spread
    • Lin, Ji-Chai, Gary Sanger, and Geoffrey Booth, 1995, Trade size and components of the bid-ask spread, Review of Financial Studies 8, 1153-1183.
    • (1995) Review of Financial Studies , vol.8 , pp. 1153-1183
    • Lin, J.-C.1    Sanger, G.2    Booth, G.3
  • 21
    • 0001862522 scopus 로고
    • A bayesian model of intraday specialist pricing
    • Madhavan, Ananth, and Seymour Smidt, 1991, A Bayesian model of intraday specialist pricing, Journal of Financial Economics 30, 99-134.
    • (1991) Journal of Financial Economics , vol.30 , pp. 99-134
    • Madhavan, A.1    Smidt, S.2
  • 22
    • 84993843615 scopus 로고
    • An analysis of changes in specialist inventories and quotations
    • Madhavan, Ananth, and Seymour Smidt, 1993, An analysis of changes in specialist inventories and quotations, Journal of Finance 48, 1595-1628.
    • (1993) Journal of Finance , vol.48 , pp. 1595-1628
    • Madhavan, A.1    Smidt, S.2
  • 24
    • 84977708043 scopus 로고
    • An analysis of intraday patterns in bid/ask spreads for NYSE stocks
    • McInish, Thomas, and Robert Wood, 1992, An analysis of intraday patterns in bid/ask spreads for NYSE stocks, Journal of Finance 47, 753-764.
    • (1992) Journal of Finance , vol.47 , pp. 753-764
    • McInish, T.1    Wood, R.2
  • 25
    • 0001276473 scopus 로고
    • A test for cross subsidies in local telephone rates: Do business customers subsidize residential customers?
    • Palmer, Karen 1992, A test for cross subsidies in local telephone rates: Do business customers subsidize residential customers?, RAND Journal of Economics 23, 415-431.
    • (1992) RAND Journal of Economics , vol.23 , pp. 415-431
    • Palmer, K.1
  • 28
    • 84977734744 scopus 로고
    • Inferring the components of the bid-ask spread: Theory and evidence
    • Stoll, Hans, 1989, Inferring the components of the bid-ask spread: Theory and evidence, Journal of Finance 44, 115-134.
    • (1989) Journal of Finance , vol.44 , pp. 115-134
    • Stoll, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.