The market reaction to international cross-listings:

The market reaction to international cross-listings: This paper examines the stock price impact of international dual listings. The sample consists of 181 firms from 35 countries that instituted their first Depositary Receipt program over the period 1985–1995. The market reaction to a Depositary Receipt program is larger in magnitude and more pervasive than previously reported. The stock price reaction is related to choice of exchange, geographical location (i.e., emerging or developed markets), and avenues for raising equity capital (i.e., public versus private offerings). http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Economics Elsevier

The market reaction to international cross-listings:

Journal of Financial Economics, Volume 51 (1) – Jan 1, 1999

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Publisher
Elsevier
Copyright
Copyright © 1998 Elsevier Science S.A.
ISSN
0304-405x
DOI
10.1016/S0304-405X(98)00045-2
Publisher site
See Article on Publisher Site

Abstract

This paper examines the stock price impact of international dual listings. The sample consists of 181 firms from 35 countries that instituted their first Depositary Receipt program over the period 1985–1995. The market reaction to a Depositary Receipt program is larger in magnitude and more pervasive than previously reported. The stock price reaction is related to choice of exchange, geographical location (i.e., emerging or developed markets), and avenues for raising equity capital (i.e., public versus private offerings).

Journal

Journal of Financial EconomicsElsevier

Published: Jan 1, 1999

References

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