Institutional Price Pressure: Evidence From NASDAQ - NYSE Listings
The abnormal return behavior of firms that change their listing from the NASDAQ to the NYSE is found to be in the main a function of institutional ownership changes rather than changes in outstanding shareholder ownership as suggested in previous work. Institutional price pressure rather than change...
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| Published in | Journal of applied business research Vol. 20; no. 2 |
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| Main Author | |
| Format | Journal Article |
| Language | English |
| Published |
31.01.2011
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| Online Access | Get full text |
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| Summary: | The abnormal return behavior of firms that change their listing from the NASDAQ to the NYSE is found to be in the main a function of institutional ownership changes rather than changes in outstanding shareholder ownership as suggested in previous work. Institutional price pressure rather than changes in overall shareholder ownership is found to explain the pre- and the post- listing abnormal returns of sample firms. |
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| ISSN: | 0892-7626 2157-8834 |
| DOI: | 10.19030/jabr.v20i2.2207 |