Schaub, Mark - In: Applied Economics Letters 21 (2014) 7, pp. 470-476
The long-term excess returns for European American Depository Receipts (ADRs) listed on the NYSE over the period 1990 to 2009 are tested to determine differences in performance and evidence of market timing effects for the decades of the 1990s and the 2000s. While the overall sample outperformed...