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Why U.S. Firms Delist from the Tokyo Stock Exchange : An Empirical Analysis
Liu, Shinhua - 2013
enhanced shareholder base and liquidity as two of the reasons for foreign listing. Further investigations rule out the sample …
Persistent link: https://www.econbiz.de/10013076143
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Are firms in "boring" industries worth less?
Chen, Jia; Hou, Kewei; Stulz, René M. - 2015
Using theories from the behavioral finance literature to predict that investors are attracted to industries with more salient outcomes and that therefore firms in such industries have higher valuations, we find that firms in industries that have high industry-level dispersion of profitability...
Persistent link: https://www.econbiz.de/10010531875
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Foreign acquisition and credit risk : evidence from the U.S. CDS market
Yilmaz, Umit - 2016 - This draft: May 31, 2016
This paper empirically analyses the effect of foreign block acquisitions on the U.S. target firms' credit risk as captured by their CDS. The involvement of foreign investors leads to a significant increase in the target firms' CDS spreads. This effect is stronger when foreign owners are...
Persistent link: https://www.econbiz.de/10011519062
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The Effects of Cross-Listing of Non-US Firms on the New York Stock Exchange
Oran, Adil - 2010
In this time of ever increasing relationships between countries within an expanding global economy, firms have to deal with decisions that extend beyond their national borders. One of their most important decisions deals with which market(s) to participate in, including capital markets. There is...
Persistent link: https://www.econbiz.de/10013147177
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The dynamics of price discovery for cross-listed stocks evidence from US and Chinese markets
Duppati, Geeta; Hou, Yang; Scrimgeour, Frank G. - In: Cogent economics & finance 5 (2017) 1, pp. 1-23
Purpose: This study examines how, and to what extent the trading of the cross-listed China-backed ADRs on the New York Stock Exchange (NYSE) contributes to the information flow and price discovery for the corresponding cross-listed stocks on the Shanghai Stock exchange (SSE)....
Persistent link: https://www.econbiz.de/10011886980
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Stock Liquidity and SMEs’ Likelihood of Bankruptcy : Evidence from the US Market
El Kalak, Izidin - 2018
We study the association between the stock liquidity of SMEs in the US and their likelihood of bankruptcy, using a … substantial heterogeneity across industries regarding the predictive power of the liquidity measure on the likelihood of … performance tests conclude that adding a liquidity measure variable to the Campbell et al. (2008) model improves its predictive …
Persistent link: https://www.econbiz.de/10012930056
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Cross-listing, information environment, and market value : evidence from US firms that list on foreign stock exchanges
Eng, Li Li; Nabar, Sandeep; Mian, G. Mujtaba - In: Journal of international accounting research 7 (2008) 2, pp. 25-41
Persistent link: https://www.econbiz.de/10003814374
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Accounting conservatism and firm value : evidence from the global financial crisis
Watts, Ross L.; Zuo, Luo - 2011 - Current version: November 2011
This paper examines the effect of accounting conservatism on firm-level investment during the 2007-2008 global financial crisis. Using a differences-in-differences design, we find that firms with less conservative financial reporting experienced a sharper decline in investment activity following...
Persistent link: https://www.econbiz.de/10009579601
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Fama–French–Carhart Factor-Based Premiums in the US REIT Market : A Risk Based Explanation, and the Impact of Financial Distress and Liquidity Crisis from 2001 to 2020
Essa, Mohammad Sharik; Giouvris, Evangelos - 2023
The study investigates the impact of financial distress (credit spread) and liquidity crises (TED spread) on size … to establish the long/short-run impact of financial distress and liquidity crisis on these premiums during recessionary … liquidity crisis. On the other hand, size, value and investment premiums rise with financial distress/liquidity crisis, only …
Persistent link: https://www.econbiz.de/10014254802
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Can Stock Liquidity be Transferred and Upgraded in Acquisitions? Option-Adjusted Evidence from Liquidity Synergies in US Freeze-Outs
Konstantaras, Konstantinos - 2018
hold sizeable toeholds in target shares. On one side, via liquidity transferring, acquirers can effectively transfer their … thinner liquidity discount on the valuation of their toeholds in fully acquired target assets. On the other, their long …-run stock liquidity can improve following the removal of their targets from the exchange. Using a sample of US delisted targets …
Persistent link: https://www.econbiz.de/10012936309