A highly significant feature of the stock market is its efficiency, which is associated with information efficiency. However, the liquidity of stock on the market is its essential characteristic. The inflow of information in highly liquid markets allows for the maintenance of high information...

Cross-listing in the US opens a new information channel for cross-listed stocks and makes the cross-listed stocks more dependent on the US market as a source of information and intermarket competition for order flow. We test this proposition by examining the effects of closures of the NYSE on...

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...