We analyze the market reaction to the announcement of takeover bids initiated by Australian public firms on private and public targets. The results show that acquirers of private targets benefit from a significantly higher share price reevaluation. This so-called listing effect is broad-based...

We analyze the market reaction to the announcement of takeover bids initiated by Australian public firms on private and public targets. The results show that acquirers of private targets benefit from a significantly higher share price reevaluation. This so-called listing effect is broad-based...

This study constructs a firm-level measure of large foreign ownership (LFO) and investigates its impact on stock return volatility in 31 emerging markets. We find a negative relationship between LFO and volatility, even after controlling for potential endogeneity and the impact of major domestic...