Market reaction to cross-listing of Canadian firm's [sic] on U.S. stock exchanges

Show simple item record

dc.contributor.advisor Boabang, Francis
dc.coverage.spatial Canada
dc.coverage.spatial United States
dc.creator Zhang, Yanqing Y. Q.
dc.date.accessioned 2015-05-07T13:29:09Z
dc.date.available 2015-05-07T13:29:09Z
dc.date.issued 2014
dc.identifier.uri http://library2.smu.ca/xmlui/handle/01/26103
dc.description 1 online resource (v, 30 p.) : col. ill.
dc.description Includes abstract and appendices.
dc.description Includes bibliographical references (p. 23-25).
dc.description.abstract This paper mainly tests the Canadian market reaction to Canadian firms being cross listed on U.S. stock exchanges. We tested the existence of abnormal returns based on cumulative abnormal returns using 11-day and 21-day event window, and bootstrap testing during the period 2000-2014. The Canadian market presents a significant positive mean cumulative return of 0.67% for the 11-day event window and 1.2% for 21-day window at the 5% significant level. In addition, cross-listing of Canadian firms on U.S. stock exchanges is a value-enhancing activity. The results confirm that security prices do adjust quickly to cross-listing announcements. In summary, Canadian firms cross-listing on U.S. stock exchanges yield a positive market reaction and an increase in shareholders’ wealth. en_CA
dc.language.iso en en_CA
dc.publisher Halifax, N.S. : Saint Mary's University
dc.title Market reaction to cross-listing of Canadian firm's [sic] on U.S. stock exchanges en_CA
dc.title.alternative Market reaction to cross-listing of Canadian firms on U.S. stock exchanges
dc.type Text en_CA
thesis.degree.name Master of Finance
thesis.degree.level Masters
thesis.degree.discipline Finance, Information Systems, & Management Science
thesis.degree.grantor Saint Mary`s University (Halifax, N.S.)


Files in this item

 
 

This item appears in the following Collection(s)

Show simple item record