TY  - JOUR
AB  - We examine tick sizes, stock prices, and share turnover in eighteen stock markets in developed countries and find that differences in mandatory tick sizes explain a significant proportion of the variation in stock prices among markets, and that lower percentage tick sizes are not associated with higher turnover. We consider the implications of these findings for the recent decimalization of stock trading in the United States, and conclude that decimal trading is likely to result in lower stock prices (due to stock splits) with no substantial change in dollar trading volume.
VL  - 20
IS  - 2
SN  - 1086-7376
DO  - 10.1108/eb028762
UR  - https://doi.org/10.1108/eb028762
AU  - DYL EDWARD A.
AU  - DOUGLAS WITTE H.
AU  - GORMAN LARRY R.
PY  - 2002
Y1  - 2002/01/01
TI  - TICK SIZES, STOCK PRICES, AND SHARE TURNOVER: INTERNATIONAL EVIDENCE
T2  - Studies in Economics and Finance
PB  - MCB UP Ltd
SP  - 1
EP  - 18
Y2  - 2024/05/14
ER  -