This study aims to determine the differences in stock returns, trading volume activity and bid-ask spreads before after split companies listed on Indonesia Stock Exchange for period 2017-2021. The population this were all that carried out a during Sampling using purposive sampling method, based predetermined criteria obtained sample of 30 companies. method used is different test analysis with a...

In an economy with commodity-pairwise trading posts and transaction costs, commodity money is endogenously determined in general equilibrium. Absent double coincidence of wants, the lowtransaction cost commodity (with the narrowest proportional bid/ask price spread) becomes the common medium of exchange. JEL Classification: C62, E40

A consistency criterion for price impact functions in limit order markets is proposed that prohibits chain arbitrage exploitation. Both the bid-ask spread and the feedback of sequential market orders of the same kind onto both sides of the order book are essential to ensure consistency at the smallest time scale. All the stocks investigated in Paris Stock Exchange have consistent price impact f...