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This paper empirically examines whether the price difference between Chinese A shares, which are traded in the domestic market, and their matching H shares, which are traded in the Hong Kong market, can be explained by firms' corporate governance characteristics. We find that the A- to H-share...
Persistent link: https://www.econbiz.de/10013090293
This paper investigates the relationship between cross-listing on the US and UK regulated and unregulated exchanges and trading volume, for a sample of 500 foreign firms from 34 countries. Evidence shows that trading volume increase is a function of both reducing segmentation and signaling...
Persistent link: https://www.econbiz.de/10013149873
evidence that the introduction of the Euro affects the wealth effects of cross-listings within the Eurozone.Finally, this study …, after considering the effect of the introduction of the Euro and the adoption of SOX. The results show that significance of …
Persistent link: https://www.econbiz.de/10010938724
In this Paper, we document how in the wake of monetary unification the markets for euro area sovereign and private …-sector bonds have become increasingly integrated. Issuers and investors alike have come to regard the euro area bond market as a … EMU. The persistence of small and variable yield differentials for sovereign debt under EMU indicates that euro area bonds …
Persistent link: https://www.econbiz.de/10005791915
In this paper, we document how in the wake of monetary unification the markets for Euro-area sovereign and private …-sector bonds have become increasingly integrated. Issuers and investors alike have come to regard the Euro-area bond market as a … EMU. The persistence of small and variable yield differentials for sovereign debt under EMU indicates that Euro-area bonds …
Persistent link: https://www.econbiz.de/10005802074
before and during the recent financial crises originated from the subprime and the Euro sovereign bonds. We take the point of … view of a Euro-based institutional investor who considers passive investment strategies in portfolios holding European …
Persistent link: https://www.econbiz.de/10013074792
One of the fundamental principles of the bank activity is prudence. This principle manifest on one hand in substance of the reglementations regarding bank activity at national, european and international level and, on the other hand, in operational activity of each bank institution and, implicit...
Persistent link: https://www.econbiz.de/10005836111
Based on a review of international and regional responses to the global financial and economic crisis and its implications for finance in Asia, Douglas Arner and Lotte Schou-Zibell draw lessons for Asian financial systems with regard to the scope of regulation; financial standards; supervision,...
Persistent link: https://www.econbiz.de/10008690118
Because IPO mechanisms determine both the initial trading price and the allocation of newly-listed firms' shares, they have financial and strategic consequences for shareholders. For that reason, it is of interest to analyse the relative advantages and disadvantages of the different procedures...
Persistent link: https://www.econbiz.de/10010861383
We analyse the reasons why companies issue units when they raise additional capital. In contrast to previous evidence, our results show that units are not offered to mitigate the agency conflicts or to signal security mispricing as they are predominantly issued during cold periods, in public...
Persistent link: https://www.econbiz.de/10010861624