| Article ID: | iaor201522787 |
| Volume: | 7 |
| Issue: | 4 |
| Start Page Number: | 291 |
| End Page Number: | 302 |
| Publication Date: | Dec 1984 |
| Journal: | Journal of Financial Research |
| Authors: | Dubofsky David A, Groth John C |
| Keywords: | investment, statistics: empirical |
Two measures are used to estimate the liquidity of stocks that switch their places of trading (from OTC to NYSE, from OTC to AMEX, and from AMEX to NYSE). Using an event‐type methodology, results are obtained that indicate a decline in liquidity for stocks leaving the OTC market. Stocks switching from the AMEX to the NYSE experience an initial increase in liquidity, followed by a decline almost to previous levels.