Wang, Alan; Yang, Sheng-Yung - In: Applied Economics Letters 11 (2004) 12, pp. 755-758
This study tries to answer the following question: Should the US investors purchase American depository receipts (ADRs) issued by Taiwanese multinationals? The conditional international asset pricing model of Dumas and Solnik (Journal of Finance, 50, 445-79, 1995) is applied to price these...
