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Title: Essays on foreign stock listing
Authors: Ting, Yang
Keywords: DRNTU::Business::Finance::Stock exchanges
Issue Date: 2005
Source: Ting, Y. (2005). Essays on foreign stock listing. Doctoral thesis, Nanyang Technological University, Singapore.
Abstract: This dissertation consists of three essays on foreign stock listing. The first essay examines firms from 27 countries/districts that bypassed their home stock markets and conducted initial public offerings in the United Sates. We find that there is significant improvement in operating performance subsequent to their US IPO events, which is consistent with findings from previous studies that such firms are of a select group of high-quality and high-growth firms. These firms significantly underperform US and home market indices as well as similar US domestic IPO firms matched on size and industry after 1,3, and 5 years of seasoning. Coupled with findings from previous studies that such firms on average experience same underwriting costs and first-day underpricing as US domestic IPOs, our finding indicates that they face similar issue costs as US domestic IPO firms.
Description: 178 p.
DOI: 10.32657/10356/47353
Rights: Nanyang Technological University
Fulltext Permission: open
Fulltext Availability: With Fulltext
Appears in Collections:NBS Theses

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