TY - JOUR
T1 - A survey of evidence on domestic and international stock exchange listings with implications for markets and managers
AU - McConnell, John J.
AU - Dybevik, Heidi J.
AU - Haushalter, David
AU - Lie, Erik
PY - 1996/12
Y1 - 1996/12
N2 - As new equity markets continue to emerge worldwide, the topic area of stock exchange listings has sparked interest among financial scholars and corporate managers alike. In this article, we review and synthesize empirical studies that examine both new and dual international and intranational listings of common stocks. The studies that we review have been conducted to provide managers and policy makers with information about the effects of listing on stock prices and to use listings as a venue to provide insights about market organization, market micro-structure, factors that determine stock prices and returns, and international capital market integration. In general, new listings are associated with an increase in stock value and no change in risk.
AB - As new equity markets continue to emerge worldwide, the topic area of stock exchange listings has sparked interest among financial scholars and corporate managers alike. In this article, we review and synthesize empirical studies that examine both new and dual international and intranational listings of common stocks. The studies that we review have been conducted to provide managers and policy makers with information about the effects of listing on stock prices and to use listings as a venue to provide insights about market organization, market micro-structure, factors that determine stock prices and returns, and international capital market integration. In general, new listings are associated with an increase in stock value and no change in risk.
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U2 - 10.1016/S0927-538X(96)00020-0
DO - 10.1016/S0927-538X(96)00020-0
M3 - Review article
AN - SCOPUS:0030524906
SN - 0927-538X
VL - 4
SP - 347
EP - 376
JO - Pacific Basin Finance Journal
JF - Pacific Basin Finance Journal
IS - 4
ER -