Level of Economic Development of a Firms Country of Domicile and the Patterns in Stock Market Reaction Surrounding US Earnings Announcements: A Test of the Global Market Segment Hypothesis

• Main Author: Kang, Tony
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2003
• Subjects: Accounting; Finance and Financial Management; International Business
• Online Access: https://ink.library.smu.edu.sg/soa_research/13; http://dx.doi.org/10.2308/jiar.2003.2.1.23
• Institution: Singapore Management University

Using the level of economic development as a proxy for the degree of capital market segmentation, this study tests the global market segmentation hypothesis, which predicts that the magnitude of the market's reaction to an earnings announcement of an American Depositary Receipt (ADR) firm will...