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Transmission of pricing information between level III ADRs and their underlying domestic stocks: Empirical evidence from India

Bhattacharjee, Kaushik; Bang, Nupur Pavan; Mamidanna, Sravya - In: Journal of Multinational Financial Management 24 (2014) C, pp. 43-59

This paper studies the price interdependence and transmission pattern between a group of level III American Depository Receipts (ADRs) and their respective underlying stock prices in India. We investigate the transmission dynamics of pricing information between the ADRs and their underlying...

Persistent link: https://www.econbiz.de/10010743806

Stock price synchronicities and speculative trading in emerging markets

Hsin, Chin-Wen; Tseng, Po-Wen - In: Journal of Multinational Financial Management 22 (2012) 3, pp. 82-109

The literature suggests that the strong price synchronicity observed in emerging markets is driven by the lack of firm-specific information acquisition. This paper extends previous studies by focusing on the question of whether investors’ speculative trading behavior or market conditions make...

Persistent link: https://www.econbiz.de/10010576578

Capital structure effects of international expansion

Joliet, Robert; Muller, Aline - In: Journal of Multinational Financial Management 23 (2013) 5, pp. 375-393

This study investigates and qualifies the impact of internationalization on the capital structure of a firm. Previous studies have associated firm internationalization with foreign sales or foreign assets. However, an increase in sales volume generated abroad does not necessarily mean that a...

Persistent link: https://www.econbiz.de/10010719022

Financing of corporations

Myers, Stewart C. - In: Handbook of the Economics of Finance

This review evaluates the four major theories of corporate financing: (1) the Modigliani-Miller theory of capital ….Further progress in understanding corporate financing decisions will require a deeper understanding of agency issues when value …

Persistent link: https://www.econbiz.de/10005221078

Agency, information and corporate investment

Stein, Jeremy C. - In: Handbook of the Economics of Finance

This essay surveys the body of research that asks how the efficiency of corporate investment is influenced by problems …

Persistent link: https://www.econbiz.de/10005221079

Payout policy

Allen, Franklin; Michaely, Roni - In: Handbook of the Economics of Finance

importance to corporate finance and asset pricing. It is important to understand the degree to which investor taxes are impounded …

Persistent link: https://www.econbiz.de/10005221080

Corporate governance and control

Becht, Marco; Bolton, Patrick; Roell, Ailsa - In: Handbook of the Economics of Finance

Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the … reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and … empirical research on the main mechanisms of corporate control, discuss the main legal and regulatory institutions in different …

Persistent link: https://www.econbiz.de/10005221081

Investment banking and securities issuance

Ritter, Jay R. - In: Handbook of the Economics of Finance

are low. When examining a large class of corporate financing activities, including equity offerings, convertible bond …. Only recently have papers begun to focus on the corporate financing implications if firms face variations in the cost of …

Persistent link: https://www.econbiz.de/10005221083

Market microstructure

Stoll, Hans R. - In: Handbook of the Economics of Finance

Market microstructure deals with the purest form of financial intermediation -- the trading of a financial asset, such as a stock or a bond. In a trading market, assets are not transformed but are simply transferred from one investor to another. The field of market microstructure studies the...

Persistent link: https://www.econbiz.de/10005221088

Corporate investment policy

Brennan, Michael J. - In: Handbook of the Economics of Finance

This chapter is concerned with the classical applied problem of capital allocation by a corporation whose securities are traded in competitive and frictionless markets. Under reasonable assumptions that are discussed, this amounts to choosing projects whose market value exceeds their cost, so...

Persistent link: https://www.econbiz.de/10005221090