IDEAS home Printed from https://ideas.repec.org/a/eee/glofin/v10y1999i2p123-145.html
   My bibliography  Save this article

The market-adjusted investment performance of ADR IPOs and SEOs

Author

Listed:
  • Callaghan, Joseph H.
  • Kleiman, Robert T.
  • Sahu, Anandi P.

Abstract

No abstract is available for this item.

Suggested Citation

  • Callaghan, Joseph H. & Kleiman, Robert T. & Sahu, Anandi P., 1999. "The market-adjusted investment performance of ADR IPOs and SEOs," Global Finance Journal, Elsevier, vol. 10(2), pages 123-145.
    • Handle: RePEc:eee:glofin:v:10:y:1999:i:2:p:123-145
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1044-0283(99)00014-9
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ian Domowitz & Jack Glen & Ananth Madhavan, 1998. "International Cross-Listing and Order Flow Migration: Evidence from an Emerging Market," Journal of Finance, American Finance Association, vol. 53(6), pages 2001-2027, December.
    2. Ibbotson, Roger G., 1975. "Price performance of common stock new issues," Journal of Financial Economics, Elsevier, vol. 2(3), pages 235-272, September.
    3. Loughran, Tim & Ritter, Jay R, 1995. "The New Issues Puzzle," Journal of Finance, American Finance Association, vol. 50(1), pages 23-51, March.
    4. Barber, Brad M. & Lyon, John D., 1997. "Detecting long-run abnormal stock returns: The empirical power and specification of test statistics," Journal of Financial Economics, Elsevier, vol. 43(3), pages 341-372, March.
    5. Ritter, Jay R, 1991. "The Long-run Performance of Initial Public Offerings," Journal of Finance, American Finance Association, vol. 46(1), pages 3-27, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mark Schaub, 2012. "International equities listed on the New York stock exchange: does type of issue or date of issue matter?," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 26(4), pages 429-447, December.
    2. Mark Schaub & Todd A. Brown, 2015. "Long Term Adr Performance: How Do Regional Issues Listed On The Nyse Compare To Us And Regional Index Returns?," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 9(3), pages 45-58.
    3. Chen, Mei-ping & Lee, Chien-Chiang & Hsu, Yi-Chung, 2011. "The impact of American depositary receipts on the Japanese index: Do industry effect and size effect matter?," Economic Modelling, Elsevier, vol. 28(1-2), pages 526-539, January.
    4. Schaub, Mark & Highfield, Michael J., 2006. "Market timing wealth effects of American Depository Receipts: The cases of emerging and developed market issues," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 16(3), pages 270-282, July.
    5. Mark Schaub, 2007. "After-market performance of industrial American Depository Receipts: Does level of issue and market timing affect returns?," Journal of Asset Management, Palgrave Macmillan, vol. 8(4), pages 259-266, November.
    6. Bin, Feng-Shun & Blenman, Lloyd P. & Chen, Dar-Hsin, 2004. "Valuation impact of currency crises: Evidence from the ADR market," International Review of Financial Analysis, Elsevier, vol. 13(4), pages 411-432.
    7. Bin, Feng-Shun & Morris, Gay B. & Chen, Dar-Hsin, 2003. "Effects of exchange-rate and interest-rate risk on ADR pricing behavior," The North American Journal of Economics and Finance, Elsevier, vol. 14(2), pages 241-262, August.
    8. Diro Ejara, Demissew & Ghosh, Chinmoy, 2004. "Underpricing and aftermarket performance of American depositary receipts (ADR) IPOs," Journal of Banking & Finance, Elsevier, vol. 28(12), pages 3151-3186, December.
    9. Mark Schaub, 2004. "Market timing effects on the investment performance of Asia-Pacific and European ADRs listed on the New York stock exchange," Applied Financial Economics, Taylor & Francis Journals, vol. 14(15), pages 1059-1066.
    10. Mark Schaub, 2011. "Does market timing or issue type affect the long-run performance of UK American Depository Receipts listed on the New York Stock Exchange?," Journal of Asset Management, Palgrave Macmillan, vol. 12(3), pages 157-162, August.
    11. Parhizgari, A.M. & Nguyen, D., 2008. "ADRs under momentum and contrarian strategies," Global Finance Journal, Elsevier, vol. 19(2), pages 102-122.
    12. Mark Schaub, 2013. "Long-Run Performance of Emerging Market ADRs: Evidence From Issues Listed on the New York Stock Exchange From 1990 Through 2009," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 5(1), pages 41-54, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Attiya Yasmin Javid & Henna Malik, 2016. "Performance and capital structure of IPOs in Pakistan from 2000 to 2015," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-19, December.
    2. Jakobsen, Jan & Sørensen, Ole, 1999. "Decomposing and testing Long-run Returns with an application to initial public offerings in Denmark," Working Papers 2000-2, Copenhagen Business School, Department of Finance.
    3. Agarwal, Sumit & Liu, Chunlin & Rhee, S. Ghon, 2008. "Investor demand for IPOs and aftermarket performance: Evidence from the Hong Kong stock market," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 18(2), pages 176-190, April.
    4. Susana Álvarez & Víctor M. González, 2005. "Signalling and the Long-run Performance of Spanish Initial Public Offerings (IPOs)," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(1-2), pages 325-350.
    5. Shikha Bhatia & Balwinder Singh, 2012. "Examining the Performance of IPOs," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 37(3), pages 219-251, August.
    6. Schuster, Josef Anton, 2003. "The cross-section of European IPO returns," LSE Research Online Documents on Economics 24859, London School of Economics and Political Science, LSE Library.
    7. Fangjian Fu & Sheng Huang, 2016. "The Persistence of Long-Run Abnormal Returns Following Stock Repurchases and Offerings," Management Science, INFORMS, vol. 62(4), pages 964-984, April.
    8. Chahine, Salim, 2004. "Long-run abnormal return after IPOs and optimistic analysts' forecasts," International Review of Financial Analysis, Elsevier, vol. 13(1), pages 83-103.
    9. Luo, Yongli & Fang, Fang & Esqueda, Omar A., 2012. "The overseas listing puzzle: Post-IPO performance of Chinese stocks and ADRs in the U.S. market," Journal of Multinational Financial Management, Elsevier, vol. 22(5), pages 193-211.
    10. Sheng-Syan Chen & Robin Chou & Yun-Chi Lee, 2014. "The long-term performance following dividend initiations and resumptions revisited," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 38(4), pages 643-657, October.
    11. José Emilio Farinós, 2001. "Rendimientos anormales de las OPV en España," Investigaciones Economicas, Fundación SEPI, vol. 25(2), pages 417-437, May.
    12. Henna Malik & Malik Muhammad Shehr Yar & Attiya Yasmin Javid, 2017. "New Issues Puzzle: Experience from Karachi Stock Exchange," Working Papers id:12182, eSocialSciences.
    13. Maher Kooli & Jean-Marc Suret, 2001. "The Underpricing of Initial Public Offerings: Further Canadian Evidence," CIRANO Working Papers 2001s-50, CIRANO.
    14. Stavros Thomadakis & Christos Nounis & Dimitrios Gounopoulos, 2012. "Long†term Performance of Greek IPOs," European Financial Management, European Financial Management Association, vol. 18(1), pages 117-141, January.
    15. Chan, Konan & Ikenberry, David L. & Lee, Inmoo, 2007. "Do managers time the market? Evidence from open-market share repurchases," Journal of Banking & Finance, Elsevier, vol. 31(9), pages 2673-2694, September.
    16. Subadar Agathee, Ushad & Brooks, Chris & Sannassee, Raja Vinesh, 2012. "Hot and cold IPO markets: The case of the Stock Exchange of Mauritius," Journal of Multinational Financial Management, Elsevier, vol. 22(4), pages 168-192.
    17. Ramchand, Latha & Sethapakdi, Pricha, 2000. "Changes in systematic risk following global equity issuance," Journal of Banking & Finance, Elsevier, vol. 24(9), pages 1491-1514, September.
    18. Maher Kooli & Jean-Marc Suret, 2001. "The Aftermarket Performance of Initial Public Offerings in Canada," CIRANO Working Papers 2001s-52, CIRANO.
    19. Lizińska Joanna & Czapiewski Leszek, 2019. "Long-Term Equity Performance in Poland – Searching for Answers with the Calendar-Time Portfolio Approach," Folia Oeconomica Stetinensia, Sciendo, vol. 19(1), pages 43-55, June.
    20. Ning Jia, 2017. "Diversification of pre-IPO ownership and foreign IPO performance," Review of Quantitative Finance and Accounting, Springer, vol. 48(4), pages 1031-1061, May.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:glofin:v:10:y:1999:i:2:p:123-145. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620162 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.