Clyde, Paul; Schultz, Paul; Zaman, Mir - In: Journal of Finance 52 (1997) 5, pp. 2103-12
The authors examine forty-seven stocks that voluntarily left the American Stock Exchange from 1992 through 1995 and listed on the NASDAQ . They find that both effective and quoted spreads increase by about 100 percent after listing on the NASDAQ. These spread changes are consistent across...