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:

Download or read book Why Do Companies List Shares Abroad written by G. Andrew Karolyi and published by . This book was released on 1998 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Summary of Special Factors to be Considered in Listing Foreign Shares on the American Stock Exchange written by New York. American stock exchange. Division of securities and published by . This book was released on 1935 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Overseas Stock Listings and Delistings written by Shinhua Liu and published by . This book was released on 2001 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the reasons for and the price effects of foreign listings and voluntary delistings on the Tokyo Stock Exchange (TSE). Such an effort is worthwhile for the following reasons. First, unlike previous studies on U.S. listings abroad, which focus almost exclusively on the listing day, this study examines the price effects at both the announcement and listing day. Second, it analyzes the price effects of seasoned equity offerings (SEO) at the cross-listings by U.S. firms for the first time. Finally, it is the first study that investigates voluntary foreign delistings and the accompanying SEO impacts Major findings are summarized as follows. Foreign firms list their shares in Tokyo for two basic reasons: raising funds from Japan and promoting their name recognition in Japan. Firms delist when their trading volumes in Tokyo become so low as not to be able to justify the relatively low costs of maintaining their listings. Home-market share prices drop significantly both upon the announcement of the listing and at the actual listing. However, no significant price reactions appear in the home market both around the announcement of the delisting and at the actual delisting Several potential explanations are offered for the non-responses. Unlike SEOs by foreign firms in the U.S., SEOs by U.S. firms at their TSE listings do not seem to affect home-market share prices. These findings contrast with theoretical predictions and provide a basis for further theoretical research in asset pricing.

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:

Download or read book The World s First Stock Exchange written by Lodewijk Petram and published by Columbia University Press. This book was released on 2014-05-27 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This account of the sophisticated financial hub that was 17th-century Amsterdam “does a fine job of bringing history to life” (Library Journal). The launch of the Dutch East India Company in 1602 initiated Amsterdam’s transformation from a regional market town into a dominant financial center. The Company introduced easily transferable shares, and within days buyers had begun to trade them. Soon the public was engaging in a variety of complex transactions, including forwards, futures, options, and bear raids, and by 1680 the techniques deployed in the Amsterdam market were as sophisticated as any we practice today. Lodewijk Petram’s award-winning history demystifies financial instruments by linking today’s products to yesterday’s innovations, tying the market’s operation to the behavior of individuals and the workings of the world around them. Traveling back in time, Petram visits the harbor and other places where merchants met to strike deals. He bears witness to the goings-on at a notary’s office and sits in on the consequential proceedings of a courtroom. He describes in detail the main players, investors, shady characters, speculators, and domestic servants and other ordinary folk, who all played a role in the development of the market and its crises. His history clarifies concerns that investors still struggle with today—such as fraud, the value of information, trust and the place of honor, managing diverging expectations, and balancing risk—and does so in a way that is vivid, relatable, and critical to understanding our contemporary world.

Download or read book The Geography of Equity Listing written by Marco Pagano and published by . This book was released on 2001 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Philadelphia Stock Exchange and the City It Made written by Domenic Vitiello and published by University of Pennsylvania Press. This book was released on 2010-04-14 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Philadelphia Stock Exchange and the City It Made recounts the history of America's first stock exchange and the ways it shaped the growth and decline of the city around it. Founded in 1790, the Philadelphia Stock Exchange, its member firms, and the companies they financed had profound impacts on the city's place in the world economy. At its start, the exchange and its members helped spur the development of the early United States, its financial sector, and its westward expansion. During the nineteenth century, they invested in making Philadelphia the center of industrial America, raising capital for the railroads and coal mines that connected cities to one another and built a fossil fuel-based economy. After financing the Civil War, they underwrote the growth of the modern metropolis, its transportation infrastructure, utility systems, and real estate development. At the turn of the twentieth century, stagnation of the exchange contributed to Philadelphia's loss of power in the national and world economy. This original interpretation of the roots of deindustrialization holds important lessons for other cities that have declined. The exchange's revival following World War II is a remarkable story, but it also illustrates the limits of economic development in postindustrial cities. Unlike earlier eras, the exchange's fortunes diverged from those of the city around it. Ultimately, it became part of a larger, global institution when it merged with NASDAQ in 2008. Far more than a history of a single institution, The Philadelphia Stock Exchange and the City It Made traces the evolving relationship between the exchange and the city. For people concerned with cities and their development, this study offers a long-term history of the public-private partnerships and private sector-led urban development popular today. More generally, it traces the networks of firms and institutions revealed by the securities market and its participants. Herein lies a critical and understudied part of the history of metropolitan economic development.

Download or read book A Listing Guide for Foreign Companies written by Tōkyō Shōken Torihikijo and published by . This book was released on 1986 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Shareholder Wealth Effects of International Listings and Delistings Evidence for Foreign Stocks on the Tokyo Stock Exchange written by and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Stock Markets of the World written by Business International Corporation and published by . This book was released on 1965 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of International Listings on Liquidity written by Manoj Kumar and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between May 1992 and June 2001, seventy-two Indian companies tapped the international capital markets with their equity offerings in form of Depositary Receipts (DRs). Initially most of these programs were in form of Global Depositary Receipts (GDRs) and were traded on London and Luxembourg stock exchanges. Since 1999 many Indian companies have been listing their American Depositary Receipts (ADRs) on the U.S. stock exchanges. Home market responses to issuance of DRs are of interest to the policy makers, investors, market intermediaries, CFOs and finance scholars. Policy makers in emerging markets are increasingly concerned about the consequences for the domestic equity market when companies list stocks abroad. Present paper assesses the impact of listing of ADRs/GDRs on the liquidity of the firm's underlying domestic shares by using a sample of 30 Indian DR programs that listed on the foreign markets between 1st January, 1996 and 30th June, 2001. Consistent with the theoretical assertions and results of Domowitz, Glen and Madhavan (1998), we record mixed results- while ADRs listings in most cases reduce the liquidity of the domestic underlying shares, GDR listings in most cases increase the liquidity of the domestic underlying shares.

Download or read book Foreign Stock Exchange Practice and Company Laws of All the Chief Countries of the World written by William John Greenwood and published by . This book was released on 1911 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Listing of Foreign Internal Shares written by Stone & Webster and Blodget, Inc and published by . This book was released on 1927* with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dual Listings on International Exchanges written by Ana Paula Serra and published by . This book was released on 2007 with total page 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 investoris 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.

Download or read book What Makes Stock Exchanges Succeed written by and published by . This book was released on 2001 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Stock Exchange Year book written by and published by . This book was released on 1875 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: