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- Title
100% MARGINS REVISITED.
- Authors
ECKARDT, JR., WALTER L.; ROGOFF, DONALD L.
- Abstract
Examines the price and volume effects associated with the imposition of the initial margin requirement for common stocks. Properties of the resulting price and volume behavior; Percentage rate of the special initial margin requirement. In a recent issue of this journal, James Largay (1) presented an empirical analysis of price and volume effects associated with the imposition of the 100% special initial margin requirement for common stocks listed on the New York and American Stock Exchanges. The purpose of this study is to examine a number of Largay's results in the light of a longer time period and a nearly exhaustive sample, the categorization of which is shown in Table 1. In addition, the stationarity of the resulting price and volume behavior is tested using a temporal partition of the data.
- Subjects
MARGIN requirements; NEW York Stock Exchange; AMERICAN Stock Exchange; STOCK prices; SECURITIES trading volume; STOCK exchanges
- Publication
Journal of Finance (Wiley-Blackwell), 1976, Vol 31, Issue 3, p995
- ISSN
0022-1082
- Publication type
Article
- DOI
10.1111/j.1540-6261.1976.tb01947.x