… Bacidore, John A. Boquist, Todd T. Milbourn, and Anjan V. … Bacidore is a doctoral
candidate in finance at Indiana University. John A. Boquist is the Edward E. …

We examine how the intrinsic differences between US and non-US stocks affect market
participants and the market quality of non-US stocks relative to US stocks. Using proprietary data …

I address the “decimalization” debate, ie, whether trading on cent ticks rather than fractions
of a dollar reduces trading costs without diminishing liquidity. I use Toronto Stock Exchange …

Traditional price improvement improperly assesses large orders’ execution quality by ignoring
additional liquidity depth-exceeding orders receive at the quoted price and viewing orders …

We examine the components of displayed (quoted) liquidity and the amount of non-displayed
liquidity on the NYSE for a sample of non-US stocks. Consistently with prior work, non-US …

We study the effects of opening and closing procedures on the NYSE and Nasdaq by examining
firms that moved from the Nasdaq to the NYSE and a sample of size-matched firms. We …

I address the issue of how decimalization impacts the information acquisition decision of
traders. I show that traders have less of an incentive to improve the quality of their information …

Both TQM and EVA can be viewed as organizational innovations designed to reduce “agency
costs”—that is, reductions in firm value that stem from conflicts of interest between various …

This paper provides a detailed description of the way the NYSE quantifies best execution on
market orders and the statistics it proposes to disseminate to member firms. We address two …

… Bacidore Jeffrey M. Bacidore, Senior Economist, International and Research, New York
Stock Exchange …