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Stock Exchange Listings, Firm Value, and Security Market Efficiency: The Impact of NASDAQ
11 references·16 citing·46 second hop
Stock Exchange Listings, Firm Value, and Security Market Efficiency: The Impact of NASDAQ (1986)Stock Exchange Listings, Firm Value, and …The Dynamics of Dealer Markets Under Competition (1983)The Dynamics of Dealer Market…An empirical investigation of the impact of ‘antitakeover’ amendments on common stock prices (1983)An empirical investigation of…Optimal dealer pricing under transactions and return uncertainty (1981)Optimal dealer pricing under …On Dealer Markets Under Competition (1980)On Dealer Markets Under Compe…Measuring security price performance (1980)Measuring security price perf…THE SUPPLY OF DEALER SERVICES IN SECURITIES MARKETS (1978)THE SUPPLY OF DEALER SERVICES…THE PRICING OF SECURITY DEALER SERVICES: AN EMPIRICAL STUDY OF NASDAQ STOCKS (1978)THE PRICING OF SECURITY DEALE…The theory of search (1974)The theory of searchSearching for the Lowest Price When the Distribution of Prices Is Unknown (1974)Searching for the Lowest Pric…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Market for Securities: Substitution Versus Price Pressure and the Effects of Information on Share Prices (1972)The Market for Securities: Su…The market reaction to cross-listings: Does the destination market matter? (2009)The market reaction to cross-…Measuring retail company performance using credit scoring techniques (2007)Measuring retail company perf…MARKET STRUCTURE AND TRADING VOLUME (2005)MARKET STRUCTURE AND TRADING …The Initial Listing Decisions of Firms That Go Public (2001)The Initial Listing Decisions…Does NYSE Listing Affect Firm Visibility? (1999)Does NYSE Listing Affect Firm…The Effects of Market Segmentation and Investor Recognition on Asset Prices: Evidence from Foreign Stocks Listing in the U.S. (1998)The Effects of Market Segment…International Cross-Listing and Visibility (1998)International Cross-Listing a…Asset pricing in segmented capital markets: Preliminary evidence from China-domiciled companies (1998)Asset pricing in segmented ca…Do institutions receive comparable execution in the NYSE and Nasdaq markets? A transaction study of block trades (1997)Do institutions receive compa…Clustering and Competition in Asset Markets (1997)Clustering and Competition in…Valuation effects of international stock exchange listings (1994)Valuation effects of internat…NYSE vs NASDAQ returns (1993)NYSE vs NASDAQ returnsTHE IMPACT OF OVERSEAS LISTINGS ON SHAREHOLDER WEALTH: THE CASE OF THE LONDON AND TORONTO STOCK EXCHANGES (1991)THE IMPACT OF OVERSEAS LISTIN…An Empirical Analysis of Common Stock Delistings (1990)An Empirical Analysis of Comm…The Stock Price Impacts of Overseas Listings (1987)The Stock Price Impacts of Ov…The Puzzle in Post-Listing Common Stock Returns (1987)The Puzzle in Post-Listing Co…Information and Consumer Behavior (1970)A model of price adjustment (1971)Job Matching and the Theory of Turnover (1979)A Strategic Analysis of Electronic Marketplaces (1991)Signaling in Retrospect and the Informational Structure of Markets (2002)The Cost of Transacting (1968)The capital asset pricing model: Some empirical tests (1972)Transaction costs and the small firm effect (1983)Transaction costs and the small firm effect (1983)The Effects of Beta, Bid-Ask Spread, Residual Risk, and Size on Stock Returns (1989)A Subordinated Stochastic Process Model with Finite Variance for Speculative Prices (1973)Liquidity and stock returns: An alternative test (1998)Over-the-Counter Markets (2004)High-Frequency Trading and Price Discovery (2014)The Adjustment of Stock Prices to New Information (1969)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Agency Problems and the Theory of the Firm (1980)The impact of long-range managerial compensation plans on shareholder wealth (1985)MODELLING ABNORMAL RETURNS: A REVIEW ARTICLE (1992)Stockholder, Manager, and Creditor Interests: Applications of Agency Theory (2000)COUNTERSPECULATION, AUCTIONS, AND COMPETITIVE SEALED TENDERS (1961)Information Effects on the Bid-Ask Spread (1983)Price Formation and Liquidity in the U.S. Treasury Market: The Response to Public Information (1999)Liquidity and Asset Prices (2006)The Flash Crash: High‐Frequency Trading in an Electronic Market (2017)An Empirical Evaluation of Accounting Income Numbers (1968)Using daily stock returns (1985)Event Studies in Economics and Finance (1997)Introductory Econometrics for Finance (2008)Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small and in the Large (1976)Oligopolistic pricing with heterogeneous consumer search (1996)Consumer information search behavior and the internet (2003)A search cost model of obfuscation (2012)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)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)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 (1968)Insiders' profits, costs of trading, and market efficiency (1986)Market liquidity as a sentiment indicator (2004)The Event Study Methodology Since 1969 (1998)Does Arbitrage Flatten Demand Curves for Stocks? (2002)Presidential Address: Asset Price Dynamics with Slow‐Moving Capital (2010)
this work references cited by second hop

References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1980Measuring security price performance3,330 cited
  • 1978THE SUPPLY OF DEALER SERVICES IN SECURITIES MARKETS1,393 cited
  • 1981Optimal dealer pricing under transactions and return uncertainty1,391 cited
  • 1972The Market for Securities: Substitution Versus Price Pressure and the Effects of Information on Share Prices886 cited
  • 1983The Dynamics of Dealer Markets Under Competition783 cited
  • 1978THE PRICING OF SECURITY DEALER SERVICES: AN EMPIRICAL STUDY OF NASDAQ STOCKS630 cited
  • 1974Searching for the Lowest Price When the Distribution of Prices Is Unknown582 cited
  • 1974The theory of search360 cited
  • 1983An empirical investigation of the impact of ‘antitakeover’ amendments on common stock prices294 cited
  • 1980On Dealer Markets Under Competition191 cited

Cited by

  • 1998The Effects of Market Segmentation and Investor Recognition on Asset Prices: Evidence from Foreign Stocks Listing in the U.S.175 cited
  • 1990An Empirical Analysis of Common Stock Delistings150 cited
  • 1997Clustering and Competition in Asset Markets147 cited
  • 1993NYSE vs NASDAQ returns

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135 cited
  • 2009The market reaction to cross-listings: Does the destination market matter?112 cited
  • 1994Valuation effects of international stock exchange listings109 cited
  • 2005MARKET STRUCTURE AND TRADING VOLUME106 cited
  • 2001The Initial Listing Decisions of Firms That Go Public100 cited
  • 1987The Puzzle in Post-Listing Common Stock Returns99 cited
  • 1987The Stock Price Impacts of Overseas Listings98 cited
  • 2007Measuring retail company performance using credit scoring techniques86 cited
  • 1997Do institutions receive comparable execution in the NYSE and Nasdaq markets? A transaction study of block trades81 cited
  • 1999Does NYSE Listing Affect Firm Visibility?75 cited
  • 1998International Cross-Listing and Visibility74 cited
  • 1991THE IMPACT OF OVERSEAS LISTINGS ON SHAREHOLDER WEALTH: THE CASE OF THE LONDON AND TORONTO STOCK EXCHANGES64 cited
  • 1998Asset pricing in segmented capital markets: Preliminary evidence from China-domiciled companies62 cited