Open AccessAdditions To The NASDAQ National Market System: An Analysis Of Stock Returns and Trading Volume
Author(s) -
Daniel Klein,
Glenn A. Wolfe,
Linda E. Bowyer
Publication year - 2011
Publication title -
journal of applied business research
Language(s) - English
Resource type - Journals
eISSN - 2157-8834
pISSN - 0892-7626
DOI - 10.19030/jabr.v8i1.6179
Subject(s) - stock market , stock (firearms) , business , financial economics , monetary economics , economics , event study , stock trading , geography , context (archaeology) , archaeology
In this study, empirical tests are conducted to determine the effect on stock returns and volume of addition to the NASDAQ National Market System (NMS). By analyzing stock returns and trading volume, the results support a positive effect for stocks added to the NMS. However, the addition appears to be a more positive event for low market value stocks relative to high market value stocks.