Purpose – The purpose of this paper is to examine the impact on stock liquidity following the reduction of minimum tick size from $0.01 to $0.005 for a selection of dual-listed and property stocks on the New Zealand Exchange (NZX) during 2011. Design/methodology/approach – Various liquidity...

We investigate whether industry differences influence how quickly New Zealand firms adjust towards target debt ratios between 1984 and 2009. We employ two-step and integrated partial adjustment models, and use measures of both book and market leverage. Our first significant finding is that...