Unlike multinational enterprises from developed economies (DE MNEs), MNEs from emerging economies (EE MNEs) commonly do not have absolute ownership advantage in management, technology, and know-how. Yet some of them have recently undertaken aggressive cross-border mergers and acquisitions...

We examine the relation between intra-day price discovery and proxies for financial openness and investor accessibility using a sample of intra-day price and quote data of 1,504 stocks from 23 emerging markets. We measure price discovery by weighted price contribution across segments of the...