The Securities Industry under Negotiated Brokerage Commissions: Changes in the Structure and Performance of New York Stock Exchange Member Firms
This paper examines the effects of competitive brokerage commission rates on the structure and performance of the NYSE brokerage industry. Although the demise of fixed minimum commission rates has caused economic hardship for a number of brokerage firms, the results to date do not support the negati...
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| Veröffentlicht in: | Bell Journal of Economics 1980-04, Vol.11 (1), p.29-41 |
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| container_end_page | 41 |
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| container_title | Bell Journal of Economics |
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| creator | Tinic, Seha M. West, Richard R. |
| description | This paper examines the effects of competitive brokerage commission rates on the structure and performance of the NYSE brokerage industry. Although the demise of fixed minimum commission rates has caused economic hardship for a number of brokerage firms, the results to date do not support the negative public policy effects that were alleged to be the inexorable consequences of permitting brokerage rates to be set by competitive pressures. |
| doi_str_mv | 10.2307/3003399 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0361-915X |
| ispartof | Bell Journal of Economics, 1980-04, Vol.11 (1), p.29-41 |
| issn | 0361-915X 0741-6261 2326-3032 1756-2171 |
| language | eng |
| recordid | cdi_proquest_journals_236472437 |
| source | RePEc; Business Source Complete; Periodicals Index Online; Jstor Complete Legacy |
| subjects | Brokerage industry Brokerages Business structures Commissions Companies Competition Competitive Economic competition Economic costs Fixed exchange rates Fixed interest rates Foreign exchange rates Industrial concentration Investors Rate setting Securities industry Security brokers Statistical data Stock brokers Stock exchanges Structure |
| title | The Securities Industry under Negotiated Brokerage Commissions: Changes in the Structure and Performance of New York Stock Exchange Member Firms |
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