haku: @indexterm liquidity / yhteensä: 315
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| Tekijä: | Huang, R. D. Stoll, H. R. |
| Otsikko: | Exchange rates and firms' liquidity: evidence from ADRs |
| Lehti: | Journal of International Money and Finance
2001 : JUN, VOL. 20:3, p. 297-325 |
| Asiasana: | EXCHANGE RATES LIQUIDITY VOLATILITY |
| Kieli: | eng |
| Tiivistelmä: | The authors examine the effect of exchange rate variability on a stock's liquidity. Using transactions data, they examine the microstructure characteristics of United Kingdom and Mexican American Depositary Receipts (ADRs) aroung two major exchange rate crises - the pound sterling withdrawal from the European Exchange Rate Mechanism in September 1992 and the Mexican devaluation of December 1994. The authors conclude that these events of exchange rate turbulence had little or no effect on the trading costs of ADRs in the U.S. |
SCIMA