ADR Issuance and the Capitalization of Firm-Specific Information
碩士 === 元智大學 === 財務金融學系 === 95 === This study examines whether the issuance of ADR improves the information content of stock prices by testing the changes in idiosyncratic risk of local stocks in emerging markets. Firms with earlier ADR issuance (before 1999) are found to exhibit significant increase...
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ndltd-TW-095YZU053040072016-05-23T04:17:52Z http://ndltd.ncl.edu.tw/handle/07166746548776759872 ADR Issuance and the Capitalization of Firm-Specific Information 美國存託憑證發行與公司特有資訊訂價 Mei-Hui Lu 盧美惠 碩士 元智大學 財務金融學系 95 This study examines whether the issuance of ADR improves the information content of stock prices by testing the changes in idiosyncratic risk of local stocks in emerging markets. Firms with earlier ADR issuance (before 1999) are found to exhibit significant increases in idiosyncratic risk as a percentage of total risk. This result is consistent with the hypothesis of improved disclosure of firm-specific information. However, similar finding is not observed for those stocks with ADRs issued after 1999. This might be attributable to increased noise traders after the internet bubble. 辛敬文 2007 學位論文 ; thesis 39 en_US |
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碩士 === 元智大學 === 財務金融學系 === 95 === This study examines whether the issuance of ADR improves the information content of stock prices by testing the changes in idiosyncratic risk of local stocks in emerging markets. Firms with earlier ADR issuance (before 1999) are found to exhibit significant increases in idiosyncratic risk as a percentage of total risk. This result is consistent with the hypothesis of improved disclosure of firm-specific information. However, similar finding is not observed for those stocks with ADRs issued after 1999. This might be attributable to increased noise traders after the internet bubble.
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辛敬文 |
author_facet |
辛敬文 Mei-Hui Lu 盧美惠 |
author |
Mei-Hui Lu 盧美惠 |
spellingShingle |
Mei-Hui Lu 盧美惠 ADR Issuance and the Capitalization of Firm-Specific Information |
author_sort |
Mei-Hui Lu |
title |
ADR Issuance and the Capitalization of Firm-Specific Information |
title_short |
ADR Issuance and the Capitalization of Firm-Specific Information |
title_full |
ADR Issuance and the Capitalization of Firm-Specific Information |
title_fullStr |
ADR Issuance and the Capitalization of Firm-Specific Information |
title_full_unstemmed |
ADR Issuance and the Capitalization of Firm-Specific Information |
title_sort |
adr issuance and the capitalization of firm-specific information |
publishDate |
2007 |
url |
http://ndltd.ncl.edu.tw/handle/07166746548776759872 |
work_keys_str_mv |
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