haku: @author Fry, C. / yhteensä: 1
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| Tekijä: | Fry, C. Lee, I. Choi, J. |
| Otsikko: | The valuation effects of overseas listings: the case of the Tokyo stock exchange |
| Lehti: | Review of Quantitative Finance and Accounting
1994 : MAR, VOL. 4:1, p. 79-88 |
| Asiasana: | STOCK EXCHANGES VALUATION USA |
| Kieli: | eng |
| Tiivistelmä: | Shareholders of U.S. firms that listed stock on the Tokyo Stock Exchange from 1973 to 1989 are shown to have experienced no significant wealth gains. The pattern of the market's reaction to a Tokyo listing tracks closely the reactions to a domestic listing, where gains prior to listing are later erased. The findings indicate no advantages to a listing for a firm with a prior business presence in Japan, and they do not support the hypothesis of diminishing returns to foreign listings. |
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