Liquidity effects due to information costs from changes

Please use this identifier to cite or link to this item: http://bura.brunel.ac.uk/handle/2438/950

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DC Field	Value	Language
dc.contributor.author	Gregoriou, A	-
dc.contributor.author	Ioannidis, C	-
dc.coverage.spatial	30	en
dc.date.accessioned	2007-07-05T12:39:19Z	-
dc.date.available	2007-07-05T12:39:19Z	-
dc.date.issued	2003	-
dc.identifier.citation	Economics and Finance Working papers, Brunel University, 03-02	en
dc.identifier.uri	http://bura.brunel.ac.uk/handle/2438/950	-
dc.description.abstract	In this paper we examine effect on the returns of firms that have been included to and deleted from the FTSE 100 over the time period of 1984-2001. Like the S&P 500 listing studies, we find that the price and trading volume of newly listed (deleted) firms increases (decreases). The evidence is consistent with the information cost/liquidity explanation. This is because investors hold stocks with more (less) available information, consequently implying that they have lower (higher) trading costs. This explains the increase (decrease) in the stock price and trading volume of newly listed (deleted) stocks to (from) the FTSE 100 List.	en
dc.format.extent	207132 bytes	-
dc.format.mimetype	application/pdf	-
dc.language.iso	en	-
dc.publisher	Brunel University	en
dc.subject	Information Costs, Trading Costs, Bid-Ask Spreads, Liquidity	en
dc.title	Liquidity effects due to information costs from changes	en
dc.type	Research Paper	en
Appears in Collections:	Economics and Finance Dept of Economics and Finance Research Papers

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