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The impact of listing Latin American ADRs on the risks and returns of the underlying shares

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  • Martell, Terrence F.
  • Rodriguez, Luis
  • Webb, Gwendolyn P.

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  • Martell, Terrence F. & Rodriguez, Luis & Webb, Gwendolyn P., 1999. "The impact of listing Latin American ADRs on the risks and returns of the underlying shares," Global Finance Journal, Elsevier, vol. 10(2), pages 147-160.
    • Handle: RePEc:eee:glofin:v:10:y:1999:i:2:p:147-160
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    1. Errunza, Vihang & Losq, Etienne, 1985. "International Asset Pricing under Mild Segmentation: Theory and Test," Journal of Finance, American Finance Association, vol. 40(1), pages 105-124, March.
    2. McConnell, John J & Sanger, Gary C, 1987. "The Puzzle in Post-listing Common Stock Returns," Journal of Finance, American Finance Association, vol. 42(1), pages 119-140, March.
    3. Lau, Sie Ting & Diltz, J. David & Apilado, Vincent P., 1994. "Valuation effects of international stock exchange listings," Journal of Banking & Finance, Elsevier, vol. 18(4), pages 743-755, September.
    4. repec:bla:jfinan:v:53:y:1998:i:6:p:2001-2027 is not listed on IDEAS
    5. repec:bla:jfinan:v:44:y:1989:i:2:p:487-98 is not listed on IDEAS
    6. Amihud, Yakov & Mendelson, Haim, 1986. "Asset pricing and the bid-ask spread," Journal of Financial Economics, Elsevier, vol. 17(2), pages 223-249, December.
    7. Stapleton, R C & Subrahmanyam, Marti G, 1977. "Market Imperfections, Capital Market Equilibrium and Corporation Finance," Journal of Finance, American Finance Association, vol. 32(2), pages 307-319, May.
    8. 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(2), pages 135-151, June.
    9. Wang, Jiang, 1994. "A Model of Competitive Stock Trading Volume," Journal of Political Economy, University of Chicago Press, vol. 102(1), pages 127-168, February.
    10. Barclay, Michael J & Litzenberger, Robert H & Warner, Jerold B, 1990. "Private Information, Trading Volume, and Stock-Return Variances," The Review of Financial Studies, Society for Financial Studies, vol. 3(2), pages 233-253.
    11. Kyle, Albert S, 1985. "Continuous Auctions and Insider Trading," Econometrica, Econometric Society, vol. 53(6), pages 1315-1335, November.
    12. Dharan, Bala G & Ikenberry, David L, 1995. "The Long-Run Negative Drift of Post-listing Stock Returns," Journal of Finance, American Finance Association, vol. 50(5), pages 1547-1574, December.
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    Cited by:

    1. Asli Bayar & Zeynep Onder, 2005. "Liquidity and price volatility of cross-listed French stocks," Applied Financial Economics, Taylor & Francis Journals, vol. 15(15), pages 1079-1094.
    2. 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.
    3. Tseng, Hsiou-Ying, 2010. "How does the removal of the United States short-sale rules impact three Latin American markets?," International Review of Financial Analysis, Elsevier, vol. 19(2), pages 127-133, March.
    4. Sanvicente, A. Z., 2001. "The market for ADRs and the quality of the Brazilian stock market," Finance Lab Working Papers flwp_42, Finance Lab, Insper Instituto de Ensino e Pesquisa.
    5. Yi-Pei Chen & Askar Koshoev, 2018. "Dividend payout, abnormal returns, and earnings growth of cross-listed firms. The situation in the Four Tigers," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 10(2), pages 065-076, December.
    6. 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.
    7. Korczak, Piotr & Bohl, Martin T., 2005. "Empirical evidence on cross-listed stocks of Central and Eastern European companies," Emerging Markets Review, Elsevier, vol. 6(2), pages 121-137, June.
    8. Abdallah, Abed Al-Nasser & Ioannidis, Christos, 2010. "Why do firms cross-list? International evidence from the US market," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(2), pages 202-213, May.

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