Effects of exchange-rate and interest-rate risk on ADR pricing behavior

Bin, Feng-Shun; Chen, Dar-Hsin

doi:10.1016/s1062-9408(03)00002-0

Cited by 19 publications

(5 citation statements)

References 29 publications

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“…From an investor's perspective, “portfolio diversification” is an emerging keyword. Few studies have worked under these ideas (Bin et al ., 2003, 2004; Fedorov and Sarkissian, 2000; Schaub, 2017a, b, 2019a, b). In recent times, studies have tested the influence of geopolitical issues such as Brexit (Schaub, 2017a, 2019a, b) and the US presidential election (Schaub, 2017b) on ADR.…”

Section: Network Analysismentioning

confidence: 99%

Mapping the intellectual structure and demystifying the research trend of cross listing: a bibliometric analysis

Batra

Saini

Yadav

et al. 2022

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PurposeThis study aims to conduct a comprehensive bibliometric analysis to determine the intellectual structure of cross-listing studies and suggests a road map for future research in this field.Design/methodology/approachA step-by-step procedure was carried out. With the help of a defined search string, 580 articles from reputed journals have been retrieved from the Scopus database. Bibliographic coupling and keyword analysis were executed to understand the current research scenario and future research directions in this research field. In addition, R Studio combined with VOSviewer was employed to analyse and visualise the data.FindingsThe results provide a deeper insight into publication trends, most prolific countries, institutions and journals in the area of cross-listing. The highest collaboration was observed between the authors in the USA and Canada. Moreover, the results contradict Bradford's and Lotka's laws. A thorough review of the literature identifies five clusters in this domain. Finally, keyword analysis offers a future road map in cross-listing research.Originality/valueResearchers have shown greater interest in cross-listing topics over the past decades. Even though the research volume on this subject is increasing, the current retrospective is still insufficient. To the best of the authors' knowledge, this study is the first to provide valuable insights to practitioners, academicians, and prospective researchers about the intellectual structure of cross-listing and also offers future avenues in this research field through bibliometric analysis.

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Section: Network Analysismentioning

confidence: 99%

Mapping the intellectual structure and demystifying the research trend of cross listing: a bibliometric analysis

Batra

Saini

Yadav

et al. 2022

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“…Chang and Tang (2007) studied Taiwanese companies that undertook IPOs and found that lower IPO pricing is similar to pricing in a cold issue market. Bin et al (2003) treated issues related to the influence of variations in the exchange rate on American Depositary Receipts and suggested that the exchange-rate risk premium might be understood by investors as a potential benefit of portfolio diversification and as a hedging opportunity provided by international investments (De Medeiros and Tibério, 2009).…”

Section: Factors Associated With Decision To List In Stock Exchangementioning

confidence: 99%

Does listing intention matter? Investigation of how earnings forecast affects decision to list on stock exchange

Yousif¹,

Ali²,

Bleady³

et al. 2018

Int. j. adv. appl. sci.

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Based on the theory of planned behavior, this study investigates how the listing-decision variables (earnings forecast, word of mouth communication, and elements of corporate governance) affect the behavioral variable (listing decision), with the attitude variable (listing intention) being the mediator. Based on a sample drawn from companies listed on the Khartoum Stock Exchange, data were collected through a questionnaire. The data were analyzed using descriptive statistics, factor analysis, reliability, and regression. The findings support the theoretical framework, indicating that the listing-decision variables are significant in shaping the attitude variable. The listing intention significantly affects the behavioral variable. The study finds that listing intention significantly mediates between listing decision and earnings forecast, but not between listing decision and word of mouth communication or elements of corporate governance. The results support the conclusion that mediation between earnings forecast and listing decision affects the listing intention, so Sudanese companies should increase their intention to list, which would develop their relationship with the Khartoum Stock Exchange.

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“…Há outros estudos sobre listagem no exterior, porém com enfoques diversos ao do presente trabalho. Por exemplo, Bin et al (2003) tratam de questões relacionadas à infl uência da variação cambial na precifi cação de ADRs. O prêmio pelo risco cambial pode ser entendido por investidores como benefícios potenciais da diversifi cação de carteiras e de oportunidades de hedging associadas a investimentos internacionais.…”

Section: Revisão Da Literaturaunclassified

Fatores que influenciam as empresas brasileiras na decisão de listar suas ações em bolsas de valores estrangeiras

Medeiros¹,

Tibério²

2009

BASE

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O presente trabalho objetiva determinar, empiricamente, os fatores que infl uenciam as empresas brasileiras na decisão de listar suas ações em bolsas de valores estrangeiras, fenômeno conhecido, internacionalmente, como cross-border listing e, no Brasil, como listagem transfronteiriça. A metodologia envolve tanto uma análise econômico-fi nanceira das empresas brasileiras listadas no exterior, caracterizando-as e diferenciando-as daquelas listadas apenas no mercado doméstico, como testes empíricos uni e multivariados, utilizando o modelo logit e uma amostra de 288 empresas listadas na Bovespa. A análise econômico-fi nanceira mostrou que as empresas listadas no exterior são rentáveis, investidoras, dinâmicas e têm ações valorizadas no mercado nacional. Os testes de hipóteses sobre os fatores que infl uenciam as empresas brasileiras a listarem no exterior indicaram que estes são: tamanho, participação no mercado acionário nacional, exposição no mercado externo e governança corporativa. O setor cujas empresas parecem ter maior probabilidade de listar no exterior é o de Telecomunicações. A relevância do trabalho está na ampliação do conhecimento sobre o comportamento das empresas brasileiras nos mercados de capitais internacionais.

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Effects of exchange-rate and interest-rate risk on ADR pricing behavior

Cited by 19 publications

References 29 publications

Mapping the intellectual structure and demystifying the research trend of cross listing: a bibliometric analysis

Mapping the intellectual structure and demystifying the research trend of cross listing: a bibliometric analysis

Does listing intention matter? Investigation of how earnings forecast affects decision to list on stock exchange

Fatores que influenciam as empresas brasileiras na decisão de listar suas ações em bolsas de valores estrangeiras

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