<title>Abstract</title> This paper examines the critical determinants of American depository receipt (ADR) returns before and after domestic stock seasoned equity offerings (SEOs) for Asian and Latin American emerging economies during 1990--2007, which has never been probed in related issues. We employ the...

This paper examines the catching-up (stochastic convergence in real per capita income) hypothesis for 52 African countries with respect to the USA. over the 1969-2011 period, using a highly flexible stationarity test. The empirical results show (i) that all African countries experienced at least...

This paper applies the distinct copula model specifications with time-invariant and time-varying dependence structures to investigate whether American depository receipts (ADRs) co-move more with the industry indexes of home country or the U.S. The evidence shows that ADR returns are more...

Different from prior studies which concentrate on the unidirectional impact of industry leading, this study examines the bi-directional dynamical causal relation between industry returns and stock market returns by considering multiple structural breaks for ten major eastern and southern Asia...