Kumar, Kiran; Mamidi, Varsha; Marisetty, Vijaya - In: Journal of International Financial Markets, … 21 (2011) 5, pp. 686-706
We examine the effect of global competition for order flows, which arise due to listing of American Depository Receipts (ADRs) by six Indian firms on the NYSE, on the local market. Using order imbalance data for six months pre- and post-listing periods, which captures order flow dynamics, we...