Asem, Ebenezer - In: Journal of Financial Research 30 (2007) 2, pp. 321-334
The NYSE extended its trading hours on September 30, 1985, by opening at 9:30 a.m. rather than at 10:00 a.m. Whereas the market closure models predict that the extension would result in lower relative volume and return variability at the open, the strategic trading models predict that the...