A survey of evidence on domestic and international stock exchange listings with implications for markets and managers

John J. McConnell, Heidi J. Dybevik, David Haushalter, Erik Lie

Research output: Contribution to journalReview article

16 Scopus citations

Abstract

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.

Original languageEnglish (US)
Pages (from-to)347-376
Number of pages30
JournalPacific Basin Finance Journal
Volume4
Issue number4
DOIs
StatePublished - Dec 1 1996

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics

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