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The Puzzle in Post‐Listing Common Stock Returns
Author(s) -
McCONNELL JOHN J.,
SANGER GARY C.
Publication year - 1987
Publication title -
the journal of finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 18.151
H-Index - 299
eISSN - 1540-6261
pISSN - 0022-1082
DOI - 10.1111/j.1540-6261.1987.tb02554.x
Subject(s) - listing (finance) , stock (firearms) , phenomenon , financial economics , common stock , economics , business , econometrics , monetary economics , history , philosophy , finance , epistemology , context (archaeology) , archaeology
Prior studies indicate that common stocks tend to earn negative returns immediately following listing on the NYSE. The authors document the phenomenon in detail and investigate a number of possible explanations. No full explanation is discovered, although several are ruled out.