Brokerage Commissions and Institutional Trading Patterns
نویسندگان
چکیده
منابع مشابه
Brokerage Commissions and Institutional Trading Patterns
Why do brokers charge per share commissions to institutional traders? What determines the commission charge? The choice of per share commissions as a payment method is puzzling, as commissions are not the most natural way to charge for order execution because costs are not proportional to the trade size and commissions are supposed to deter trading. We contend that commissions, rather than repr...
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ژورنال
عنوان ژورنال: Review of Financial Studies
سال: 2009
ISSN: 0893-9454,1465-7368
DOI: 10.1093/rfs/hhp083