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Author : Katherine Smith
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.F/5 ( download)
Download or read book The Impact of an NYSE Listing on the Global Trading of Non-U.S. Stocks written by Katherine Smith and published by . This book was released on 1997 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Melek Pulatkonak
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.3/5 ( download)
Download or read book The Distribution of Global Trading in NYSE-listed Non-U.S. Stocks written by Melek Pulatkonak and published by . This book was released on 1999 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : New York Stock Exchange. Advisory Committee on International Capital Markets. Subcommittee on Trading and Listing Foreign Securities
Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (356 download)
Download or read book Policies to Increase Foreign Listings on the NYSE written by New York Stock Exchange. Advisory Committee on International Capital Markets. Subcommittee on Trading and Listing Foreign Securities and published by . This book was released on 1975 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Olga Dodd
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (13 download)
Download or read book NYSE Closure and Global Equity Trading written by Olga Dodd and published by . This book was released on 2019 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cross-listing in the US opens a new information channel for cross-listed stocks and makes the cross-listed stocks more dependent on the US market as a source of information and intermarket competition for order flow. We test this proposition by examining the effects of closures of the NYSE on trading of cross-listed stocks in their home markets. We use daily and intraday trading data for stocks from 36 countries that cross-list on the NYSE during the period 2009-2018 to estimate measures of stock liquidity and information efficiency of stock prices on normal days and on days when the NYSE is closed due to US public holidays and natural hazards. We document that, when the NYSE is closed, stocks that cross-list on the NYSE see a significant reduction in stock liquidity and information efficiency of stock prices in their home markets, over and above the reduction experienced by their domestic counterparts. In addition, we investigate several channels that could explain the documented reduction in liquidity and price efficiency - information, substitute and arbitrage channels. We document that cross-listed stocks are more affected by NYSE closure when they have greater dependence on the US market, and when arbitrage strategies are easier to implement, providing some evidence for the information channel and arbitrage channel arguments.
Author : United States. Securities and Exchange Commission
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (31 download)
Download or read book Securities Exchange Act of 1934 as Amended written by United States. Securities and Exchange Commission and published by . This book was released on 1964 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : G. Andrew Karolyi
Publisher : London : Richard Ivey School of Business, University of Western Ontario
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.F/5 ( download)
Download or read book What Happens to Stocks that List Shares Abroad? written by G. Andrew Karolyi and published by London : Richard Ivey School of Business, University of Western Ontario. This book was released on 1996 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Margaret M. Forster
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Trading Hours, Information Flow and International Cross- Listing written by Margaret M. Forster and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the volatility of information-related price changes of NYSE stocks that are traded in London and/or Tokyo, British and Japanese stocks that are cross-listed on the NYSE, and similar stocks that are not traded abroad. Examination of the impact of a security's primary and cross listings on the relative variance of daytime and overnight NYSE returns indicates that: (i) among stocks with identical overall listings, the rate of information flow into the prices of Japanese and British stocks is significantly less than that of U.S. stocks during NYSE trading hours; (ii) the rate of information flow into the prices of U.S. stocks when the NYSE is closed is greater for U.S. stocks cross-listed in Tokyo than non-cross-listed U.S. stocks, but not for U.S. stocks cross-listed in London; and (iii) the rate of information flow into the prices of foreign stocks during NYSE trading hours is greater, the greater is their NYSE volume. These results are consistent with the hypotheses that (a) both public and private information flow into prices at a greater rate when a stock's primary market is open than when it is closed, even if off-shore trading opportunities are available; and (b) foreign trading does facilitate price discovery if there is sufficient trading activity in the foreign market.
Author : Dariusz Wójcik
Publisher : Oxford University Press
ISBN 13 : 0199592187
Total Pages : 219 pages
Book Rating : 4.1/5 (995 download)
Download or read book The Global Stock Market written by Dariusz Wójcik and published by Oxford University Press. This book was released on 2011-05-26 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book uses rich data and global case studies to examine the rise of emerging markets, the impact of the global financial crisis, the revolution in the stock exchange business model, and the continued dominance of London and New York as stock market centres.
Author :
Publisher : Academic Press
ISBN 13 : 012405899X
Total Pages : 807 pages
Book Rating : 4.1/5 (24 download)
Download or read book The Evidence and Impact of Financial Globalization written by and published by Academic Press. This book was released on 2012-12-31 with total page 807 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. Substantial articles by top scholars sets this volume apart from other information sources Rapidly developing subjects will interest readers well into the future Reader demand and lack of competitors underline the high value of these reference works
Author : Christine X. Jiang
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Trading Costs of Non-U.S. Stocks on the NYSE written by Christine X. Jiang and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the differences in market microstructure between U.S. and non-U.S. stocks cross-listed on the New York Stock Exchange (NYSE) using a sample of 316 pairs of matched stocks. We find that non-U.S. stocks have wider spreads and larger adverse-selection costs than U.S. stocks even after controlling for macro-level institutional differences. Regression analysis shows that spreads and adverse-selection costs are negatively correlated with institutional ownership and analyst followings. Thus, the higher spreads and adverse-selection costs on non-U.S. stocks can be partly explained by the lower institutional ownership and analyst following of non-U.S. stocks. In addition, we find that although the spreads and adverse-selection costs on non-U.S. stocks are significantly higher before the implementation of Regulation Fair Disclosure (FD), the differences become even greater after Regulation FD, suggesting that Regulation FD has improved the information environment for U.S. stocks.
Author : Ruth Janine Freedman
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)
Download or read book A Theory of the Impact of International Cross-listing written by Ruth Janine Freedman and published by . This book was released on 1991 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lawrence J. Gitman
Publisher :
ISBN 13 : 9781947172555
Total Pages : 732 pages
Book Rating : 4.1/5 (725 download)
Download or read book Introduction to Business written by Lawrence J. Gitman and published by . This book was released on 2018 with total page 732 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond.
Author : Merritt B. Fox
Publisher : Columbia University Press
ISBN 13 : 023154393X
Total Pages : 612 pages
Book Rating : 4.2/5 (315 download)
Download or read book The New Stock Market written by Merritt B. Fox and published by Columbia University Press. This book was released on 2019-01-08 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.
Download or read book NYSE Specialist Trading in Non-US Stocks written by and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sereno Stansbury Pratt
Publisher :
ISBN 13 :
Total Pages : 322 pages
Book Rating : 4.A/5 ( download)
Download or read book The Work of Wall Street written by Sereno Stansbury Pratt and published by . This book was released on 1908 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ana Paula Serra
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Valuation Impact of Dual-Listing on International Exchanges written by Ana Paula Serra and published by . This book was released on 1998 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects on stock returns of dual-listing on an international exchange. My sample consists of 70 firms from 10 emerging markets that dual-listed on the NYSE, NASDAQ and SEAQ-I over the period 1991-1995. The theoretical motivation for this paper lies in the context of the segmentation of international capital markets. When a firm dual-lists, it makes its shares available to a broader investor base resulting in better risk sharing. In the particular case of emerging markets, where barriers to investment are more severe in the sense that international investment is, in the limit, precluded by regulatory and ownership barriers, we expect those effects to be more pronounced. Previous literature has looked at the effects of foreign listings and has found support for investor?s awareness and liquidity arguments but is inconclusive regarding the capital markets segmentation explanation. In this paper, I re-examine that issue: I evaluate whether an international dual-listing has any significant effect on returns and I proceed to investigate whether there is evidence to support an International Asset Pricing based explanation. In addition I compare the impact of US and London SEAQ-I listings. My results show that firms experience significant positive abnormal returns before listing and a significant decline in returns following listing and this effect is more pronounced for emerging markets? firms. Moreover, for these firms, the valuation impact is similar across exchanges.
Author : Henry Hamon
Publisher : Wentworth Press
ISBN 13 : 9780530878379
Total Pages : 406 pages
Book Rating : 4.8/5 (783 download)
Download or read book New York Stock Exchange Manual written by Henry Hamon and published by Wentworth Press. This book was released on 2019-03-11 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
