Open AccessADR Effects on Domestic Latin American Financial Market
Author(s) -
Alfredo Mendiola
Publication year - 2010
Publication title -
cuadernos de difusión
Language(s) - English
Resource type - Journals
eISSN - 1815-6606
pISSN - 1815-6592
DOI - 10.46631/jefas.2010.v15n28.02
Subject(s) - listing (finance) , cross listing , latin americans , business , financial market , accounting , finance , political science , corporate governance , law
The purpose of this paper is to revisit and extend previous research work that examines the ADR-listing effects on the trading process of all the domestically-listed stocks in the main Latin American exchanges. The most important result is consistent with the idea of a greater isolation (from global markets) of the singly-listed stocks in the post-cross-listing period. These results persist over the cross-listing months. As expected, the cross-listed stocks become more integrated in the post-cross listing period