Karolyi, G. Andrew (contributor) - 2004 - [Elektronische Ressource]
-listing (relying heavily on information from the depositary
banks about creating American Depositary Receipt, or ADR, programs), and … study found
a positive 1.15 percent average abnormal return for 183 ADR-initiating announcement dates between
1985 and … abnormal returns for the two years around the
listing dates for 183 ordinary and ADR listings. While they found a significant …