The Securities Industry under Negotiated Brokerage Commissions: Changes in the Structure and Performance of New York Stock Exchange Member Firms
AbstractThis paper examines the effects of competitive brokerage commission rates on the structure and performance of the NYSE brokerage industry. Although the demise of fixed minimum commission rates has caused economic hardship for a number of brokerage firms, the results to date do not support the negative public policy effects that were alleged to be the inexorable consequences of permitting brokerage rates to be set by competitive pressures.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal Bell Journal of Economics.
Volume (Year): 11 (1980)
Issue (Month): 1 (Spring)
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Web page: http://www.rje.org
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- Luke Bortoli & Alex Frino & Elvis Jarnecic, 2004. "Differences in the Cost of Trade Execution Services on Floor-Based and Electronic Futures Markets," Journal of Financial Services Research, Springer, vol. 26(1), pages 73-87, August.
- White, Lawrence J., 2006.
"The Residential Real Estate Brokerage Industry: What Would More Vigorous Competition Look Like?,"
- Lawrence J. White, 2006. "The Residential Real Estate Brokerage Industry: What Would More Vigorous Competition Look Like?," Working Papers 06-06, New York University, Leonard N. Stern School of Business, Department of Economics.
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