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Do institutions care about market structure? A case study of listing firms

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  • Michele O’Neill

Abstract

Trading by institutions on the NSYE and Nasdaq markets has grown dramatically. Yet, while listing effects for firms moving to an exchange have been studied for more than 60 years, evidence on whether listing is beneficial is mixed. This study focuses on listing effects to institutional traders by examining different factors that capture changes in block execution. Results indicate price impacts and liquidity costs decline for various types of block trades and block trade sizes, the average volume of which increases after listing.(JEL G20) Copyright Springer 2002

Suggested Citation

  • Michele O’Neill, 2002. "Do institutions care about market structure? A case study of listing firms," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 26(1), pages 50-62, March.
    • Handle: RePEc:spr:jecfin:v:26:y:2002:i:1:p:50-62
    DOI: 10.1007/BF02744451
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    References listed on IDEAS

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    1. LaPlante, Michele & Muscarella, Chris J., 1997. "Do institutions receive comparable execution in the NYSE and Nasdaq markets? A transaction study of block trades," Journal of Financial Economics, Elsevier, vol. 45(1), pages 97-134, July.
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    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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