Price Clustering and Price Barriers: International Evidence

Chen Tao ()
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Chen Tao: Lee Shau Kee School of Business & Administration, Open University of Hong Kong, Hong Kong

Nang Yan Business Journal, 2014, vol. 3, issue 1, 1-16

Abstract: In this paper, I try to complement the existing literature by empirically examining the effect of price clustering and price barriers based on the international stock market. Evidence suggests that a strong effect of clustering and barriers is observed on last digit 0. Such effect is not robust and persistent on last digit 5. In addition, the cross-country analysis shows that price clustering and barriers become intensified in countries with a more transparent and open environment.

Keywords: Price clustering; Price barriers; International stock market; G02; G15 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:nybujo:v:3:y:2014:i:1:p:1-16:n:1

DOI: 10.1515/nybj-2015-0001

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