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A survey of evidence on domestic and international stock exchange listings with implications for markets and managers

  • McConnell, John J.
  • Dybevik, Heidi J.
  • Haushalter, David
  • Lie, Erik
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    File URL: http://www.sciencedirect.com/science/article/B6VFF-3VV6947-1/2/2ca4aa5bde589792c5020a6ddf35813e
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    Article provided by Elsevier in its journal Pacific-Basin Finance Journal.

    Volume (Year): 4 (1996)
    Issue (Month): 4 (December)
    Pages: 347-376

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    Handle: RePEc:eee:pacfin:v:4:y:1996:i:4:p:347-376
    Contact details of provider: Web page: http://www.elsevier.com/locate/pacfin

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    1. Stephen R Foerster & G Andrew Karolyi, 1993. "International Listings of Stocks: The Case of Canada and the U.S," Journal of International Business Studies, Palgrave Macmillan, vol. 24(4), pages 763-784, December.
    2. Furst, Richard W, 1970. "Does Listing Increase the Market Price of Common Stocks?," The Journal of Business, University of Chicago Press, vol. 43(2), pages 174-80, April.
    3. Howe, John S. & Madura, Jeff & Tucker, Alan L., 1993. "International listings and risk," Journal of International Money and Finance, Elsevier, vol. 12(1), pages 99-110, February.
    4. Kent Baker, H. & Khan, Walayet A. & Edelman, Richard B., 1994. "The post-dual listing anomaly," Journal of Economics and Business, Elsevier, vol. 46(4), pages 287-297, October.
    5. Boardman, Calvin M. & Dark, Frederick H. & Lease, Ronald C., 1986. "On the Listing of Corporate Debt: A Note," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 21(01), pages 107-114, March.
    6. Rosenthal, Leonard, 1983. "An empirical test of the efficiency of the ADR market," Journal of Banking & Finance, Elsevier, vol. 7(1), pages 17-29, March.
    7. Arnold R. Cowan & Richard B. Carter & Frederick H. Dark & Ajai K. Singh, 1992. "Explaining the NYSE Listing Choices of NASDAQ Firms," Financial Management, Financial Management Association, vol. 21(4), Winter.
    8. H. Kent Baker & Richard B. Edelman, 1992. "AMEX-to-NYSE Transfers, Market Microstructure, and Shareholder Wealth," Financial Management, Financial Management Association, vol. 21(4), Winter.
    9. Sanger, Gary C. & Peterson, James D., 1990. "An Empirical Analysis of Common Stock Delistings," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 25(02), pages 261-272, June.
    10. Theoharry Grammatikos & George Papaioannou, 1986. "Market Reaction To Nyse Listings: Tests Of The Marketability Gains Hypothesis," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 9(3), pages 215-227, 09.
    11. Black, Fischer, 1974. "International capital market equilibrium with investment barriers," Journal of Financial Economics, Elsevier, vol. 1(4), pages 337-352, December.
    12. Garbade, Kenneth D & Silber, William L, 1979. "Dominant and Satellite Markets: A Study of Dually-Traded Securities," The Review of Economics and Statistics, MIT Press, vol. 61(3), pages 455-60, August.
    13. Khan, Walayet A, et al, 1993. "Dual Domestic Listing, Market Structure and Shareholder Wealth," The Financial Review, Eastern Finance Association, vol. 28(3), pages 371-83, August.
    14. Hamilton, James L., 1976. "Competition, Scale Economies, and Transaction Cost in the Stock Market," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 11(05), pages 779-802, December.
    15. Clarkson, Peter M & Thompson, Rex, 1990. " Empirical Estimates of Beta When Investors Face Estimation Risk," Journal of Finance, American Finance Association, vol. 45(2), pages 431-53, June.
    16. Shahrokh M Saudagaran, 1988. "An Empirical Study of Selected Factors Influencing the Decision to List on Foreign Stock Exchanges," Journal of International Business Studies, Palgrave Macmillan, vol. 19(1), pages 101-127, March.
    17. Alexander, Gordon J. & Eun, Cheol S. & Janakiramanan, S., 1988. "International Listings and Stock Returns: Some Empirical Evidence," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 23(02), pages 135-151, June.
    18. Jayaraman, Narayanan & Shastri, Kuldeep & Tandon, Kishore, 1993. "The impact of international cross listings on risk and return : The evidence from American depository receipts," Journal of Banking & Finance, Elsevier, vol. 17(1), pages 91-103, February.
    19. Kadlec, Gregory B & McConnell, John J, 1994. " The Effect of Market Segmentation and Illiquidity on Asset Prices: Evidence from Exchange Listings," Journal of Finance, American Finance Association, vol. 49(2), pages 611-36, June.
    20. Shahrokh M Saudagaran & Gary C Biddle, 1995. "Foreign Listing Location: A Study of MNCs and Stock Exchanges in Eight Countries," Journal of International Business Studies, Palgrave Macmillan, vol. 26(2), pages 319-341, June.
    21. Hamilton, James L, 1978. "Marketplace Organization and Marketability: NASDAQ, the Stock Exchange, and the National Market System," Journal of Finance, American Finance Association, vol. 33(2), pages 487-503, May.
    22. Tinic, Seha M & West, Richard R, 1974. "Marketability of Common Stocks in Canada and the U.S.A.: A Comparison of Agent versus Dealer Dominated Markets," Journal of Finance, American Finance Association, vol. 29(3), pages 729-46, June.
    23. Jorion, Philippe & Schwartz, Eduardo, 1986. " Integration vs. Segmentation in the Canadian Stock Market," Journal of Finance, American Finance Association, vol. 41(3), pages 603-14, July.
    24. Christie William G. & Huang Roger D., 1994. "Market Structures and Liquidity: A Transactions Data Study of Exchange Listings," Journal of Financial Intermediation, Elsevier, vol. 3(3), pages 300-326, June.
    25. Mittoo, Usha R, 1992. " Additional Evidence on Integration in the Canadian Stock Market," Journal of Finance, American Finance Association, vol. 47(5), pages 2035-54, December.
    26. Edelman, Richard B & Baker, H Kent, 1990. "Liquidity and Stock Exchange Listing," The Financial Review, Eastern Finance Association, vol. 25(2), pages 231-49, May.
    27. Ferri, Michael G & Moore, Scott B & Schirm, David C, 1989. "The Listing, Size, and Value of Equity Warrants," The Financial Review, Eastern Finance Association, vol. 24(1), pages 135-46, February.
    28. G. Maxwell Ule, 1937. "Price Movements of Newly Listed Common Stocks," The Journal of Business, University of Chicago Press, vol. 10, pages 346.
    29. Fama, Eugene F & French, Kenneth R, 1992. " The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, vol. 47(2), pages 427-65, June.
    30. Reints, William W. & Vandenberg, Pieter A., 1975. "The Impact of Changes in Trading Location on a Security's Systematic Risk," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 10(05), pages 881-890, December.
    31. Dhaliwal, Dan S., 1983. "Exchange-listing effects on a firm's cost of equity capital," Journal of Business Research, Elsevier, vol. 11(2), pages 139-151, June.
    32. Van Horne, James C, 1970. "New Listings and Their Price Behavior," Journal of Finance, American Finance Association, vol. 25(4), pages 783-94, September.
    33. Arvind Bhandari & Theoharry Grammatikos & Anil K. Makhija & George Papaioannou, 1989. "Risk And Return On Newly Listed Stocks: The Post-Listing Experience," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 12(2), pages 93-102, 06.
    34. Brock, William A. & Kleidon, Allan W., 1992. "Periodic market closure and trading volume : A model of intraday bids and asks," Journal of Economic Dynamics and Control, Elsevier, vol. 16(3-4), pages 451-489.
    35. Barclay, Michael J & Litzenberger, Robert H & Warner, Jerold B, 1990. "Private Information, Trading Volume, and Stock-Return Variances," Review of Financial Studies, Society for Financial Studies, vol. 3(2), pages 233-53.
    36. Sanger, Gary C. & McConnell, John J., 1986. "Stock Exchange Listings, Firm Value, and Security Market Efficiency: The Impact of NASDAQ," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 21(01), pages 1-25, March.
    37. Chan, K C & Christie, William G & Schultz, Paul H, 1995. "Market Structure and the Intraday Pattern of Bid-Ask Spreads for NASDAQ Securities," The Journal of Business, University of Chicago Press, vol. 68(1), pages 35-60, January.
    38. Ying, Louis K. W. & Lewellen, Wilbur G. & Schlarbaum, Gary G. & Lease, Ronald C., 1977. "Stock Exchange Listings and Securities Returns," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 12(03), pages 415-432, September.
    39. Lee, Charles M C & Mucklow, Belinda & Ready, Mark J, 1993. "Spreads, Depths, and the Impact of Earnings Information: An Intraday Analysis," Review of Financial Studies, Society for Financial Studies, vol. 6(2), pages 345-74.
    40. Cheung, Yan-Leung & Ho, Richard Yan-Ki & Pope, Peter & Draper, Paul, 1994. "Intraday stock return volatility: The Hong Kong evidence," Pacific-Basin Finance Journal, Elsevier, vol. 2(2-3), pages 261-276, May.
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