Clare, Andrew; Morgan, Gareth; Thomas, Stephen - In: Journal of Business Finance & Accounting 29 (2002) 1&2, pp. 29-53
The extent of non-trading is shown to be much greater in the UK than in the more heavily researched US equity markets. Over the period 1975 to 1995 we find that almost 44% of all stocks in our sample failed to trade on the last day of a given month, a figure which is significantly higher than...