Risk and return implications of American depository receipts listings.

• Main Authors: Chia, Kelvin Zhi Ling., Choi, Shuk Man., Goh, Lek Ping.
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Published: 2008
• Subjects: DRNTU::Business::Finance::Equity
• Online Access: http://hdl.handle.net/10356/8658
• Institution: Nanyang Technological University

This paper examines the behaviour of stock returns and volatility patterns upon the listing of ADRs by Singapore firms. The sample reveals evidence showing negative post-listing abnormal returns and risk reducing effects although changes in volatilities upon the listing of the ADRs are insignificant...