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Ahmed Baig, Nasim Sabah and Drew Winters
 
''Have Stock Prices become more Uniformly Distributed?''
( 2019, Vol. 39 No.2 )
 
 
We find that: (1) prices cluster on 0¢ and 5¢, (2) prices cluster at the close and intraday, (3) intraday prices cluster more than closing prices with the difference increasing through time, and (4) price clustering declines with time. Our results suggest several paths for future research.
 
 
Keywords: price clustering, intra-day clustering, round prices, time
JEL: G1 - (G11, G13, G13) Portfolios, Investments, Asset and Futures Pricing, Trading Volume & Bond Interest Rates
 
Manuscript Received : May 15 2019 Manuscript Accepted : May 31 2019

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