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Does Listing on the AMEX Increase the Value of Equity?
9 references·8 citing·35 second hop
Does Listing on the AMEX Increase the Value of Equity? (1981)Does Listing on the AMEX Increase the Val…Measuring portfolio performance and the empirical content of asset pricing models (1979)Measuring portfolio performan…Investment Analysis and Portfolio Management. (1979)Investment Analysis and Portf…AMBIGUITY WHEN PERFORMANCE IS MEASURED BY THE SECURITIES MARKET LINE (1978)AMBIGUITY WHEN PERFORMANCE IS…A critique of the asset pricing theory's tests Part I: On past and potential testability of the theory (1977)A critique of the asset prici…Capital Market Equilibrium with Restricted Borrowing (1972)Capital Market Equilibrium wi…NEW LISTINGS AND THEIR PRICE BEHAVIOR (1970)NEW LISTINGS AND THEIR PRICE …EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)EFFICIENT CAPITAL MARKETS: A …Risk, The Pricing of Capital Assets, and The Evaluation of Investment Portfolios (1969)Risk, The Pricing of Capital …CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)CAPITAL ASSET PRICES: A THEOR…EXCHANGE LISTINGS AND DELISTINGS: THE ROLE OF INSIDER INFORMATION AND INSIDER TRADING (1999)EXCHANGE LISTINGS AND DELISTI…A survey of evidence on domestic and international stock exchange listings with implications for markets and managers (1996)A survey of evidence on domes…DUAL LISTINGS AND SHAREHOLDERS’WEALTH: EVIDENCE FROM UK AND JAPANESE FIRMS (1992)DUAL LISTINGS AND SHAREHOLDER…AMEX-to-NYSE Transfers, Market Microstructure, and Shareholder Wealth (1992)AMEX-to-NYSE Transfers, Marke…Liquidity and Stock Exchange Listing (1990)Liquidity and Stock Exchange …A Note on Unsuccessful Tender Offers and Stockholder Returns (1988)A Note on Unsuccessful Tender…THE INFORMATIONAL VALUE OF LISTING ON THE NEW YORK STOCK EXCHANGE (1986)THE INFORMATIONAL VALUE OF LI…EXCHANGE LISTING AND STOCK LIQUIDITY (1984)EXCHANGE LISTING AND STOCK LI…The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)The arbitrage theory of capital asset pricing (1976)Efficiency of mutual funds and portfolio performance measurement: A non-parametric approach (1997)Mutual fund performance and seemingly unrelated assets (2002)Evaluating the Performance of Ethical and Non‐ethical Funds: A Matched Pair Analysis (2005)The Cost of Transacting (1968)The Dynamics of Dealer Markets Under Competition (1983)Liquidity, exchange listing, and common stock performance (1985)Alternative Liquidity Measures and Stock Returns (1997)Market Depth and Order Size (1997)Why do only some Nasdaq firms switch to the NYSE? Evidence from corporate transactions (2010)Risk, Return, and Equilibrium: Empirical Tests (1973)The relationship between return and market value of common stocks (1981)Efficient Capital Markets: II (1991)Multifactor Explanations of Asset Pricing Anomalies (1996)The Behavior of Stock-Market Prices (1965)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Users of the world, unite! The challenges and opportunities of Social Media (2009)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Performance Hypothesis Testing with the Sharpe and Treynor Measures (1981)Time-varying conditional covariances in tests of asset pricing models (1989)Measuring abnormal performance (1992)How Many Stocks Make a Diversified Portfolio? (1987)Stock market volatility, excess returns, and the role of investor sentiment (2002)Sorting things out: valuation of new firms in uncertain markets (2003)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Common risk factors in the returns on stocks and bonds (1993)Asymmetric information and portfolio performance measurement (1979)The performance of unseasoned new equity issues-cum-stock exchange listings in Australia (1988)The strategy‐shareholder value relationship: Testing temporal stability across market cycles (1991)The Cross-Section of Expected Stock Returns (1992)Further Evidence on Short-Run Results for New Issue Investors (1973)The Role of American Depositary Receipts in the Development of Emerging Markets (2001)Firm characteristics and the impact of emerging market liberalizations (2004)
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References

  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*19,431 cited
  • 1970EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*15,723 cited
  • 1972Capital Market Equilibrium with Restricted Borrowing3,097 cited
  • 1977A critique of the asset pricing theory's tests Part I: On past and potential testability of the theory3,006 cited
  • 1979Investment Analysis and Portfolio Management.985 cited
  • 1969Risk, The Pricing of Capital Assets, and The Evaluation of Investment Portfolios941 cited
  • 1978AMBIGUITY WHEN PERFORMANCE IS MEASURED BY THE SECURITIES MARKET LINE439 cited
  • 1979Measuring portfolio performance and the empirical content of asset pricing models122 cited
  • 1970NEW LISTINGS AND THEIR PRICE BEHAVIOR91 cited

Cited by

  • 1984EXCHANGE LISTING AND STOCK LIQUIDITY43 cited
  • 1999EXCHANGE LISTINGS AND DELISTINGS: THE ROLE OF INSIDER INFORMATION AND INSIDER TRADING41 cited
  • 1986THE INFORMATIONAL VALUE OF LISTING ON THE NEW YORK STOCK EXCHANGE39 cited
  • 1992AMEX-to-NYSE Transfers, Market Microstructure, and Shareholder Wealth30 cited
  • 1990Liquidity and Stock Exchange Listing29 cited
  • 1996A survey of evidence on domestic and international stock exchange listings with implications for markets and managers

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29 cited
  • 1988A Note on Unsuccessful Tender Offers and Stockholder Returns23 cited
  • 1992DUAL LISTINGS AND SHAREHOLDERS’WEALTH: EVIDENCE FROM UK AND JAPANESE FIRMS16 cited