search query: @author Lee, I. / total: 12
reference: 11 / 12
| Author: | Lee, I. |
| Title: | The impact of overseas listings on shareholder wealth: the case of the London and Toronto stock exchanges. |
| Journal: | Journal of Business Finance and Accounting
1991 : JUN, VOL. 18:4, p. 583-592 |
| Index terms: | STOCK MARKETS SHARE PRICES FOREIGN INVESTMENT CANADA UNITED KINGDOM USA |
| Language: | eng |
| Abstract: | The impact on common stock prices of US companies' decisions to list their stocks on the London or Toronto Stock Exchange (LSE and TSE) is examined. First, the admission procedures and the listing requirements are discussed. Using a sample of 141 USA firms admitted to the LSE or TSE between January 1962 and December 1986, the results indicate that overseas listings do not cause any significant or permanent change in the shareholder's wealth. These findings are consistent with results from previous studies testing the effects of the USA domestic stock exchange listings, but do not support the results from an earlier study testing the stock price impacts of overseas listings on other exchanges. Implications for USA companies are derived. |
SCIMA