IDEAS home Printed from https://ideas.repec.org/a/fma/fmanag/baker92.html
   My bibliography  Save this article

AMEX-to-NYSE Transfers, Market Microstructure, and Shareholder Wealth

Author

Listed:
  • H. Kent Baker
  • Richard B. Edelman

Abstract

Each year some corporate managers decide to change the listing of their firm's common stock from the American Stock Exchange (AMEX) to the New York Stock Exchange (NYSE). In making this decision to switch auction markets, managers presumably act in the best interests of their shareholders. The potential implications of this managerial decision are far-reaching because differences between the AMEX and NYSE may affect security returns and share value. Little empirical research is available about whether shareholders benefit if a firm switches the trading location of its common stock from the AMEX to the NYSE.

Suggested Citation

  • 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.
    • Handle: RePEc:fma:fmanag:baker92
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

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


    Cited by:

    1. Gwendolyn P. Webb, 1999. "Evidence Of Managerial Timing: The Case Of Exchange Listings," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 22(3), pages 247-263, September.
    2. Wańczyk Krzysztof, 2018. "Impact of Changes in Composition of Exchange Price Index Shares of Listed Polish Companies," Financial Sciences. Nauki o Finansach, Sciendo, vol. 23(3), pages 111-121, September.
    3. Campbell, Kevin & Tabner, Isaac T., 2014. "Bonding and the agency risk premium: An analysis of migrations between the AIM and the Official List of the London Stock Exchange," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 30(C), pages 1-20.
    4. A.K Cisse, 2010. "Consequences economiques du transfert de marché de cotation : cas du NYSE-Euronext Paris," Post-Print halshs-00534749, HAL.
    5. McConnell, John J. & Dybevik, Heidi J. & Haushalter, David & Lie, Erik, 1996. "A survey of evidence on domestic and international stock exchange listings with implications for markets and managers," Pacific-Basin Finance Journal, Elsevier, vol. 4(4), pages 347-376, December.
    6. Bessler, Wolfgang & Beyenbach, Johannes & Rapp, Marc Steffen & Vendrasco, Marco, 2021. "The global financial crisis and stock market migrations: An analysis of family and non-family firms in Germany," International Review of Financial Analysis, Elsevier, vol. 74(C).
    7. Yang, Chau-Chen & Baker, H. Kent & Chou, Li-Chuan & Lu, Bo-Wei, 2009. "Does switching from NASDAQ to the NYSE affect investment-cash flow sensitivity?," Journal of Business Research, Elsevier, vol. 62(10), pages 1007-1012, October.
    8. Richie, Nivine & Madura, Jeff, 2007. "Impact of the QQQ on liquidity and risk of the underlying stocks," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(3), pages 411-421, July.
    9. A.K Cisse, 2011. "Transfert de marché de cotation : Motivations et Conséquences," Post-Print halshs-00658730, HAL.

    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:fma:fmanag:baker92. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Courtney Connors (email available below). General contact details of provider: https://edirc.repec.org/data/fmaaaea.html .

    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.