IDEAS home Printed from https://ideas.repec.org/a/ids/injbaf/v3y2011i1p73-90.html
   My bibliography  Save this article

International cross-listings on CEE-stock exchanges

Author

Listed:
  • Marek Kobialka
  • Hanna K. Koivulehto

Abstract

Improved integration of stock markets has led to a surge in cross-border listings. While academic research has, in the past, concentrated on foreign listings with the host market being located in the USA or Western Europe, this study looks at foreign companies quoting shares on Central and Eastern European exchanges. More precisely, we concentrate on the effects of cross-listing of a foreign company on a CEE Stock Exchange. Our results indicate that the respective home markets react slightly negatively to such a cross-listing with trading volumes increasing considerably and prices tumbling. By contrast, interest in the newly listed stock is strong on the new markets on the first day of trading only; thereafter turnover drops sharply and recovers slowly. Consequently, this study cannot support the assumption of perfect market integration, but rather highlights the existence of a segmented international stock exchange market.

Suggested Citation

  • Marek Kobialka & Hanna K. Koivulehto, 2011. "International cross-listings on CEE-stock exchanges," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 3(1), pages 73-90.
    • Handle: RePEc:ids:injbaf:v:3:y:2011:i:1:p:73-90
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=39372
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

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


    Cited by:

    1. Mitica Pepi, 2022. "The Impact of the Global Pandemic Crisis on East and Central EU Stock Markets," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 963-968, September.
    2. Anghelache, Gabriela Victoria & Kralik, Lorand Istvan & Acatrinei, Marius & Pete, Stefan, 2014. "Influence of the EU Accession Process and the Global Crisis on the CEE Stock Markets: A Multivariate Correlation Analysis," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 35-52, June.

    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:ids:injbaf:v:3:y:2011:i:1:p:73-90. 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: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=277 .

    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.