This paper examines the effects on stock returns of dual-listing on an international exchange. My sample consists of 70 firms from 10 emerging markets that dual-listed on the NYSE, NASDAQ and SEAQ-I over the period 1991-1995. The theoretical motivation for this paper lies in the context of the...

We test for herding by Portuguese mutual funds over the period of 1998 to 2000. We employ the (herding) measure of trading suggested by Lakonishok et al. (1992). We find strong evidence of herding behavior for Portuguese mutual funds. Furthermore, our results suggest that the level of herding is...

This study examines the influence of country and industry factors on the cross-sectional variance and correlation structure of returns. I use new data on emerging markets' stocks obtained from the Emerging Markets Data Base. I find that emerging markets' returns are mainly driven by country...