We suggest that Doidge et al.'s (2004) finding of non-U.S. firms worth more when listed in the U.S. is a special case of a general quot;bonding premiumquot; phenomenon. When firm bonds to a quot;qualityquot; market by listing there, it tends to enjoy the quot;bonding premiumquot;. As to where...

Existing literature on trade news effect on asset prices generally looks at exchange rates and stock market indices. This paper focuses on individual stocks--the U.S. and Japanese quot;Big Threequot; automobile stocks. This study makes several contributions. First, it examines Japanese...

We examine whether sizable initial public offerings (IPOs) affect the whole market. Using a Chinese IPO sample, we find robust evidence that sizable IPOs do depress the market price on not only the listing day but also the offering (subscription) day. The impact on the market is negatively...