Similar Search Results

Risk-adjusted returns of American depositary receipts on Chinese and Indian stocks

Arugaslan, Onur; Samant, Ajay - 2009

This study evaluates the risk-adjusted performance of American Depositary Receipts (ADRs) on shares of stock of Chinese … and Indian firms. The first part of the study examines the nature of Chinese and Indian ADRs (based on depositary bank …, sponsorship status, industry classification and listing). The second part of the study evaluates the performance of these ADRs …

Persistent link: https://www.econbiz.de/10009441821

Cross-Border Trading as a Mechanism for Capital Flight: ADRs and the Argentine Crisis

Auguste, Sebastian; Dominguez, Kathryn M. E.; Kamil, Herman - 2002

financial crisis and the role played by ADRs in Argentine capital flight. Although Argentine investors were subject to capital … controls, they were able to purchase stocks with associated ADRs for pesos in Argentina, convert them into ADRs, re-sell them … became more important in pricing peso denominated stocks with associated ADRs, while the same stocks in New York were mainly …

Persistent link: https://www.econbiz.de/10009477174

Are Financial Crises Indeed “Crises?” Evidence from the Emerging ADR Market

Pasquariello, Paolo - 2005

The recent episodes of financial turmoil in Mexico, East Asia, Russia, Brazil, and Argentina are often dubbed financial crises. However, the severe downturns in equity markets, abrupt currency devaluations, and massive capital flight that characterize these events can still be deemed compatible...

Persistent link: https://www.econbiz.de/10009477277

Impact of Cross-listing on Local Stock Returns: Case of Russian ADRs

Smirnova, Elena - 2004

stocks. The contribution of this paper is twofold. First, it looks at a new sample of ADRs issued by Russian companies …

Persistent link: https://www.econbiz.de/10009477458

Essays on Consumption-based Asset Pricing Models

Bin Li - 2009

Consumption-based asset pricing models (CCAPMs) connect asset returns with consumption growth. The poor empirical performance of early consumption models has led to the development of a number of more sophisticated models. Nevertheless, most models focus on the US markets, and very few CCAPMs...

Persistent link: https://www.econbiz.de/10009448102

Consumption habit and international stock returns

Li, Yuming; Zhong, Maosen - 2005

We use the consumption-based asset pricing model with habit formation to study the predictability and cross-section of returns from the international equity markets. We find that the predictability of returns from many developed countries' equity markets is explained in part by changing prices...

Persistent link: https://www.econbiz.de/10009448823

Option pricing and foreign investment under political risk

Cherian, J.A.; Perotti, E.C. - 1999

The paper analyzes foreign investment and asset prices in a context of uncertainty over future government policy. The model endogenizes the process of learning by foreign investors facing a potentially opportunistic government, which chooses strategically the timing of a policy reversal in order...

Persistent link: https://www.econbiz.de/10009460048

Option pricing and foreign investment under political risk

Cherian, J.A.; Perotti, E.C. - 1999

he paper analyses foreign investment and asset prices in a context of uncertainty over future government policy. The model endogenizes the process of learning by foreign investors facing a potentially opportunistic government, which chooses strategically the timing of a policy reversal in order...

Persistent link: https://www.econbiz.de/10009460195

Option pricing and foreign investment under political risk

Cherian, J. A.; Perotti, E.C. - 1999

The paper analyses foreign investment and asset prices in a context of uncertainty over future government policy. The model endogenizes the process of learning by foreign investors facing a potentially opportunistic government, which chooses strategically the timing of a policy reversal in order...

Persistent link: https://www.econbiz.de/10009460360

International asset prices : empirical evidence

Leonardo Morales-Arias - 2009

The recently witnessed financial turmoil and the current international stability context have demonstrated the need for a deeper understandingabout ex-ante international asset price fluctuations. Moreover, it is now more evident that very little is known about real estate securities and their...

Persistent link: https://www.econbiz.de/10009429017