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Price Clustering and Price Barriers: International Evidence

Author

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  • Chen Tao

    (Lee Shau Kee School of Business & Administration, Open University of Hong Kong, Hong Kong)

Abstract

In this paper, I try to complement the existing literature by empirically examining the effect of price clustering and price barriers based on the international stock market. Evidence suggests that a strong effect of clustering and barriers is observed on last digit 0. Such effect is not robust and persistent on last digit 5. In addition, the cross-country analysis shows that price clustering and barriers become intensified in countries with a more transparent and open environment.

Suggested Citation

  • Chen Tao, 2014. "Price Clustering and Price Barriers: International Evidence," Nang Yan Business Journal, Sciendo, vol. 3(1), pages 1-16, December.
    • Handle: RePEc:vrs:nybujo:v:3:y:2014:i:1:p:1-16:n:1
    DOI: 10.1515/nybj-2015-0001
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    More about this item

    Keywords

    Price clustering; Price barriers; International stock market; G02; G15;
    All these keywords.

    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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