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Microstructure invariance in U.S. stock market trades

Kyle, Albert S.; Obižaeva, Anna; Tuzun, Tugkan - In: Journal of financial markets 49 (2020), pp. 1-36

Persistent link: https://www.econbiz.de/10013531193

Do ADR firms have different dividend policies than U.S. firms? : a comparative study

Tong, Shenghui; Murtagh, James; Proctor, Richard - In: International Journal of Financial Studies : open … 10 (2022) 1, pp. 1-10

This paper examines and compares the dividend policies of American depository receipt (ADR) firms and U.S. firms and identifies the factors that determine these policies for both types of companies. We find that ADR firms have higher dividend yields than U.S. firms, while U.S. firms have higher...

Persistent link: https://www.econbiz.de/10013040942

Does Cross Listing in the U.S. Really Enhance the Value of Emerging Market Firms?

O’Connor, Thomas - 2010

In this paper, I study the valuation effects of cross listing in the U.S. for a panel of emerging market firms over the period from 1990 to 2003. In line with Kristian-Hope et al. (2007), I find that only those firms from high disclosure regimes gain from Level 2/3 listing in the U.S. The gains...

Persistent link: https://www.econbiz.de/10013149111

Cross-Listing in the U.S. and Domestic Investor Protection

O’Connor, Thomas - 2010

firms substitute dividends for enhanced governance. I find no such effect for Rule 144a firms. Interestingly, I document … evidence inconsistent with the legal bonding hypothesis for Level 1 firms. I believe that their ability to pay lower dividends … a sizable proportion of their earnings as dividends. I find that the firm-level governance of Level 1 firms, as measured …

Persistent link: https://www.econbiz.de/10013149123

Cross-Border Regulatory Cooperation and Dividend Policies of US Listed Foreign Firms

Chang, Yuyuan; He, Wen; Mi, Lin - 2022

We examine the effect of increased regulatory enforcement threat on the dividend policies of foreign firms listed in US stock exchanges. The staggered signing of the Multilateral Memorandum of Understanding (MMoU) by the US and foreign regulators facilitates cross-border regulatory cooperation...

Persistent link: https://www.econbiz.de/10013289870

The shareholder base and payout policy

Bodnaruk, Andrij; Östberg, Peter - 2012

undertake a repurchase (reduce the shareholder base even further) and are more likely to pay special dividends …

Persistent link: https://www.econbiz.de/10009558399

Do firms buy their stock at bargain prices? : evidence from actual stock repurchase disclosure

Ben-Rephael, Azi; Oded, Jacob; Wohl, Avi - 2011

We use new data from SEC filings to investigate how S&P 500 firms execute their open market repurchase programs. We find that smaller S&P 500 firms repurchase less frequently than larger firms, and at a price which is significantly lower than the average market price. Their repurchase activity...

Persistent link: https://www.econbiz.de/10009248238

The impact of the reduction in tick increments in major US markets on spreads, depth, and volatility

Ness, Bonnie F. van; Ness, Robert A. van; Pruitt, Stephen W. - In: Review of quantitative finance and accounting 15 (2000) 1, pp. 153-167

Persistent link: https://www.econbiz.de/10001522438

The effect of decimalization on the components of the bid-ask spread

Gibson, Scott; Singh, Rajdeep; Yerramilli, Vijay - In: Journal of financial intermediation 12 (2003) 2, pp. 121-148

Persistent link: https://www.econbiz.de/10001789491

The split of the S&P 500 contract : effects on liquidity and market dynamics

Karagozoglu, Ahmet K.; Martell, Terrence F.; Wang, … - In: Review of quantitative finance and accounting 21 (2003) 4, pp. 323-348

Persistent link: https://www.econbiz.de/10001857725