IDEAS home Printed from https://ideas.repec.org/a/cup/jfinqa/v8y1973i02p191-192_01.html
   My bibliography  Save this article

Comment: The Effect of Dual Markets on Common Stock Market Making

Author

Listed:
  • Wood, William F. J.

Abstract

In their paper Messrs. Reilly and Slaughter set out two questions, namely:1. Prior to the introduction of technological advance in the securities market was there any difference in the market making between the NYSE and OTC on a sample of 30 stocks?2. Following that introduction what was the effect on the market making of these securities listed on the NYSE?The authors clearly stated the basic economic theory that underlies this exchange of assets and the price setting mechanism, and then concentrated on the empirical study. Their findings are inconsistent with their a priori expectations. This empirical study is well done; the methodology is sound and well presented. However, the authors appear to have overlooked one vital aspect of this type of study, i.e., institutional effects. I shall concentrate upon this area.

Suggested Citation

  • Wood, William F. J., 1973. "Comment: The Effect of Dual Markets on Common Stock Market Making," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 8(2), pages 191-192, March.
    • Handle: RePEc:cup:jfinqa:v:8:y:1973:i:02:p:191-192_01
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0022109000019256/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jfinqa:v:8:y:1973:i:02:p:191-192_01. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jfq .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.