Information asymmetry, market segmentation, and cross-listing: Implications for event study methodology

• Published in: Journal of Asian economics Vol. 28; pp. 28 - 40
• Main Authors: Gu, Lulu, Reed, W. Robert
• Format: Journal Article
• Language: English
• Published: Greenwich Elsevier Inc 01.10.2013; Elsevier Science Ltd
• Subjects: Abnormal returns; Acquisitions & mergers; China; Event study; International markets; Market segmentation; Mergers and acquisitions; Multiple listings; Securities markets; Studies; China; C12; Multiple listings; China; G34; G15; G14; Event study; Mergers and acquisitions

•A large proportion of firms list their shares on multiple exchanges.•We generalize event study methodology to handle instances of multiple listings.•The methodology is applied to an event study of Chinese overseas mergers and acquisitions.•The empirical results are compared to conventional event st...