haku: @author Levine, R. / yhteensä: 21
viite: 4 / 21
| Tekijä: | Levine, R. Schmukler, S. |
| Otsikko: | Internationalization and stock market liquidity |
| Lehti: | Review of finance
2006 : VOL. 10:1, p. 153-187 |
| Asiasana: | emerging markets internationalization liquidity stock markets |
| Kieli: | eng |
| Tiivistelmä: | What is the impact of internationalization (companies raising capital and trading in international markets) on the liquidity of the remaining companies in domestic markets? To address this question, this study assembles a panel database of nearly 2900 companies from 45 emerging economies over the period 1989-2000 constructed from annual and daily data. Evidence of migration is found. The domestic trading of companies that cross-list or issue depositary receipts in foreign public exchanges tends to decrease, while a significant proportion of their trading activity concetrates in international markets. |
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