Execution costs of dual listed Australian stocks

• Autores: Subhrendu Rath
• Localización: Applied financial economics, ISSN 0960-3107, Vol. 17, Nº. 4-6, 2007, págs. 379-389
• Idioma: inglés
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• Resumen

  • Theoretical models imply that trading costs should be lower for multiple traded stocks. This study compares the execution costs of a group of stocks which are dually listed (on the NYSE and ASX) to that of a matched group of stocks which are listed only on the ASX. The sample is controlled across several characteristics to control for differences in firm specific characteristics. It is found that the execution costs are lower for the dual listed stocks.