Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/38947
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Campo DC | Valor | Idioma |
---|---|---|
dc.contributor.author | Loureiro, Gilberto | por |
dc.contributor.author | Silva, Sónia Maria da Silva Faria Nogueira da | por |
dc.date.accessioned | 2015-12-14T15:13:37Z | - |
dc.date.available | 2015-12-14T15:13:37Z | - |
dc.date.issued | 2015 | - |
dc.identifier.uri | https://hdl.handle.net/1822/38947 | - |
dc.description.abstract | We investigate the long-term performance of cross-delisted firms from U.S. stock markets. Using a sample of foreign firms listed and delisted from U.S. stock exchange markets over 2000-2012, we examine the operating performance and the long-run stock returns performance of firms post-cross-delisting. Our results suggest that cross-delisted firms have less growth opportunities than matched cross-listed firms in the long run. Moreover, firms that cross-delist after the passage of Rule 12h-6 of 2007 exhibit a significant decline in operating performance. In contrast, before the adoption of the Rule 12h-6, cross-delisted firms seem to be affected by the cost of a U.S. listing in the precross -delisting period. In addition, we provide evidence that cross-delisted firms underperform their cross-listed peers; cross-delisted firms experience negative average abnormal returns, especially in the post-delisting period. | por |
dc.description.sponsorship | COMPETE, QREN, FEDER, FCT | por |
dc.language.iso | eng | por |
dc.publisher | Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE) | por |
dc.rights | openAccess | por |
dc.subject | Cross-Delisting | por |
dc.subject | Long-run Stock Returns | por |
dc.subject | Post-Operating Performance | por |
dc.title | Post-operating performance of cross-delisted firms from U.S. stock exchanges | por |
dc.type | workingPaper | por |
dc.peerreviewed | no | por |
dc.relation.publisherversion | http://www.nipe.eeg.uminho.pt/Uploads/WP_2015/NIPE_WP_17_2015.pdf | por |
sdum.publicationstatus | published | por |
oaire.citationStartPage | 1 | por |
oaire.citationEndPage | 40 | por |
oaire.citationIssue | NIPE WP 17/2015 | por |
oaire.citationConferencePlace | Braga, Portugal | por |
oaire.citationTitle | NIPE working papers series | por |
Aparece nas coleções: | NIPE - Documentos de Trabalho |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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NIPE_WP_17_2015.pdf | 507,11 kB | Adobe PDF | Ver/Abrir |