Market liberalizations at the firm level: Spillovers from ADRs and implications for local markets
Tài liệu tham khảo
Aggarwal, 2005, Portfolio preferences of foreign institutional investors, Journal of Banking and Finance, 29, 2919, 10.1016/j.jbankfin.2004.09.008
Ahearne, 2004, Information costs and home bias: an analysis of US holding of foreign equities, Journal of International Economics, 62, 313, 10.1016/S0022-1996(03)00015-1
Alexander, 1987, Asset pricing and dual listing on foreign capital markets: a note, Journal of Finance, 42, 151, 10.2307/2328425
Amihud, 1986, Asset pricing and the bid-ask spread, Journal of Financial Economics, 17, 223, 10.1016/0304-405X(86)90065-6
Bekaert, 1995, Time-varying world market integration, Journal of Finance, 50, 403, 10.2307/2329414
Bekaert, 1997, Emerging equity market volatility, Journal of Financial Economics, 43, 29, 10.1016/S0304-405X(96)00889-6
Bekaert, 2000, Foreign speculators and emerging equity markets, Journal of Finance, 55, 565, 10.1111/0022-1082.00220
Bekaert, 2002, Dating the integration of world equity markets, Journal of Financial Economics, 65, 203, 10.1016/S0304-405X(02)00139-3
Chari, 2004, Risk sharing and asset prices: evidence from a natural experiment, Journal of Finance, 59, 1295, 10.1111/j.1540-6261.2004.00663.x
Choe, 1999, Do foreign investors destabilize stock markets? The Korean experience in 1997, Journal of Financial Economics, 54, 227, 10.1016/S0304-405X(99)00037-9
Chordia, 2000, Commonality in liquidity, Journal of Financial Economics, 56, 3, 10.1016/S0304-405X(99)00057-4
Dahlquist, 2001, Direct foreign ownership, institutional investors, and firm characteristics, Journal of Financial Economics, 59, 413, 10.1016/S0304-405X(00)00092-1
De Santis, 1997, Stock returns and volatility in emerging financial markets, Journal of International Money and Finance, 16, 561, 10.1016/S0261-5606(97)00020-X
Doidge, 2004, Why are foreign firms listed in the U.S. worth more?, Journal of Financial Economics, 71, 205, 10.1016/S0304-405X(03)00183-1
Edison, 2003, A simple measure of the intensity of capital controls, Journal of Empirical Finance, 10, 81, 10.1016/S0927-5398(02)00055-5
Edison, 2004, U.S. investors' emerging market equity portfolios: a security-level analysis, Review of Economics and Statistics, 84, 691, 10.1162/0034653041811671
Errunza, 2000, Market segmentation and the cost of capital in international equity markets, Journal of Financial and Quantitative Analysis, 35, 577, 10.2307/2676256
Ferreira, M., Matos, P. The colors of institutions' money: the role of institutional investors around the world. Journal of Financial Economics, in press.
Foerster, 1999, The effects of market segmentation and investor recognition on asset prices: evidence from foreign stocks listing in the United States, Journal of Finance, 54, 981, 10.1111/0022-1082.00134
Henry, 2000, Stock market liberalization, economic reform and emerging market prices, Journal of Finance, 55, 529, 10.1111/0022-1082.00219
Kang, 1997, Why is there a home bias? An analysis of foreign portfolio equity ownership in Japan, Journal of Financial Economics, 46, 3, 10.1016/S0304-405X(97)00023-8
Karolyi, 2004, The role of ADRs in the development and integration of emerging equity markets, Review of Economics and Statistics, 86, 670, 10.1162/0034653041811699
Kim, 2000, Stock market opening: experience of emerging economies, Journal of Business, 73, 25, 10.1086/209631
Lee, D., 2004. Why do ADR program announcements increase shareholder wealth? Working Paper, Ohio State University.
Levine, 2006, Internationalization and stock market liquidity, Review of Finance, 10, 153, 10.1007/s10679-006-6981-7
Melvin, M., Valero-Tonone, M., 2004. The effects of international cross-listings on rival firms. Working paper, Arizona State University.
Miller, 1999, The market reaction to international cross-listings: evidence from depositary receipts, Journal of Financial Economics, 51, 103, 10.1016/S0304-405X(98)00045-2
Patro, 2005, Firm characteristics and the impact of emerging market liberalizations, Journal of Banking and Finance, 29, 1671, 10.1016/j.jbankfin.2004.06.032
Reese, 2002, Protection of minority shareholder interests, cross-listing in the United States, and subsequent equity offerings, Journal of Financial Economics, 66, 65, 10.1016/S0304-405X(02)00151-4
Stoll, 2000, Presidential address: friction, Journal of Finance, 55, 1479, 10.1111/0022-1082.00259
Sundaram, 1996, Valuation effects of foreign company listings on U.S. exchanges, Journal of International Business Studies, 27, 67, 10.1057/palgrave.jibs.8490127
Tesar, 1995, Home bias and high turnover, Journal of International Money and Finance, 14, 467, 10.1016/0261-5606(95)00023-8