The Effects of Market Segmentation and Investor Recognition on Asset Prices: Evidence from Foreign Stocks Listing in the United States

A Simple, Positive Semi-Definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix

1987 • 15,268 citations

A Simple Model of Capital Market Equilibrium with Incomplete Information

1987 • 5,293 citations

Asset pricing and the bid-ask spread

1986 • 5,250 citations

The New Issues Puzzle

1995 • 3,411 citations

Time‐Varying World Market Integration

1995 • 2,163 citations

Measuring Fund Strategy and Performance in Changing Economic Conditions

1996 • 1,677 citations

Price performance of common stock new issues

1975 • 1,377 citations

International Portfolio Choice and Corporation Finance: A Synthesis

1983 • 1,374 citations

An equilibrium model of the international capital market

1974 • 1,180 citations

International Asset Pricing under Mild Segmentation: Theory and Test

1985 • 956 citations

Why Do Markets Move Together? An Investigation of U.S.‐Japan Stock Return Comovements

1996 • 912 citations

The World Price of Foreign Exchange Risk

1995 • 824 citations

Does industrial structure explain the benefits of international diversification?

1994 • 792 citations

The market reaction to international cross-listings: evidence from Depositary Receipts

1999 • 780 citations

Intertemporal asset pricing

1990 • 647 citations

Industrial Structure and the Comparative Behavior of International Stock Market Indices

1992 • 603 citations

Why Do Companies List Shares Abroad?: A Survey of the Evidence and Its Managerial Implications

1998 • 593 citations

The Impact of Merger-Related Regulations on the Shareholders of Acquiring Firms

1983 • 583 citations

International capital market equilibrium with investment barriers

1974 • 570 citations

Predictable Stock Returns in the United States and Japan: A Study of Long‐Term Capital Market Integration

1992 • 521 citations

Integration vs. Segmentation in the Canadian Stock Market

1986 • 436 citations

The Effect of Market Segmentation and Illiquidity on Asset Prices: Evidence from Exchange Listings

1994 • 432 citations

Another look at the role of the industrial structure of markets for international diversification strategies1We are especially grateful to Pat Casey and Virge Cavalli at Dow Jones for providing the Dow Jones World Stock Index data and for their assistance with numerous queries. We gratefully acknowledge the comments of Geert Bekaert, William Brigham, Shane Corwin, Steve Foerster, Jeff Harris, Steve Heston, Ajay Khorana, David Mayers, John Persons, René Stulz, and particularly, the referee (…

1998 • 412 citations

Private Information, Trading Volume, and Stock-Return Variances

1990 • 363 citations

International Listings and Stock Returns: Some Empirical Evidence

1988 • 347 citations

Global financial markets and the risk premium on U.S. equity

1992 • 345 citations

Asset Pricing and Dual Listing on Foreign Capital Markets: A Note

1987 • 321 citations

Exchange Rate Fluctuations, Political Risk, and Stock Returns: Some Evidence from an Emerging Market

1995 • 275 citations

MARKET IMPERFECTIONS, CAPITAL MARKET EQUILIBRIUM AND CORPORATION FINANCE

1977 • 257 citations

International Listings of Stocks: The Case of Canada and the U.S.

1993 • 248 citations

The impact of international cross listings on risk and return

1993 • 220 citations

Market Structures and Liquidity: A Transactions Data Study of Exchange Listings

1994 • 220 citations

Capital Controls and International Capital Market Segmentation: The Evidence from the Japanese and American Stock Markets

1989 • 217 citations

Another Look at the Role of the Industrial Structure of Markets for International Diversification Strategies

1996 • 207 citations

The Long‐Run Negative Drift of Post‐Listing Stock Returns

1995 • 194 citations

Market Imperfections, Capital Market Equilibrium and Corporation Finance

1977 • 193 citations

Stock Exchange Listings, Firm Value, and Security Market Efficiency: The Impact of NASDAQ

1986 • 186 citations

Additional Evidence on Integration in the Canadian Stock Market

1992 • 166 citations

Financial Disclosure Levels and Foreign Stock Exchange Listing Decisions

1992 • 164 citations

The Ex-Dividend Day Behavior of Canadian Stock Prices: Tax Changes and Clientele Effects

1984 • 142 citations

Conditional Methods in Event Studies and an Equilibrium Justification for Standard Event-Study Procedures

1997 • 125 citations

A Report on the Attitudes of Foreign Companies Regarding a U.S. Listing

1997 • 124 citations

Valuation effects of international stock exchange listings

1994 • 117 citations

The Stock Price Impacts of Overseas Listings

1987 • 103 citations

The impact of international listings on risk

1990 • 97 citations

NEW LISTINGS AND THEIR PRICE BEHAVIOR

1970 • 90 citations

Disclosure Choices of Foreign Registrants in the United States

1996 • 65 citations

INTERNATIONAL LISTINGS, THE SECURITY MARKET LINE AND CAPITAL MARKET INTEGRATION: THE CASE OF US LISTINGS ON THE LONDON STOCK EXCHANGE

1993 • 38 citations

A survey of evidence on domestic and international stock exchange listings with implications for markets and managers

1996 • 31 citations