Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- African Stock Market (1)
- American depository receipts (1)
- Bubble (1)
- Capital asset pricing model (CAPM) (1)
- Capital structure (1)
-
- China (1)
- Corporate governance (1)
- Cross-list (1)
- Cross-listings (1)
- Dividend policy (1)
- Economic growth (1)
- Emerging markets (1)
- Executive compensation (1)
- Financial openness (1)
- Firm performance (1)
- Globalization (1)
- IPOs (1)
- Insider ownership (1)
- Irrationality (1)
- Liquidity (1)
- Long-run returns (1)
- Mispricing (1)
- Ownership structure (1)
- Regulation (1)
- Risk (1)
- Stock returns (1)
- Trade openness (1)
- Underpricing (1)
- United States (1)
Articles 1 - 5 of 5
Full-Text Articles in Finance and Financial Management
Do U.S. Firms Fly Higher When Bypassing The U.S. Capital Markets? An Investigation Of The Short- And Long-Run Performance Of Foreign Ipos?, Robert N. Killins
Do U.S. Firms Fly Higher When Bypassing The U.S. Capital Markets? An Investigation Of The Short- And Long-Run Performance Of Foreign Ipos?, Robert N. Killins
Theses and Dissertations - UTB/UTPA
This dissertation studies the performance of U.S. firms that partake in a foreign IPO – bypassing their domestic exchanges and raising their equity in a foreign market. Chapter one provides an introduction and brief review of the main research questions and results. Chapter 2 provides a detailed literature review on initial public offerings-IPOs. This includes relevant studies on the long- and short-run performance of IPOs, theories for IPO underpricing and an international component of the IPO literature. Additional cross-listing literature is also reviewed to provide a more complete and balanced understanding of the international market for equity. Chapter 3 develops …
Executive Compensation, Firm Performance And Liquidity Under Imperfect Corporate Governance, Yongli Luo
Executive Compensation, Firm Performance And Liquidity Under Imperfect Corporate Governance, Yongli Luo
Theses and Dissertations - UTB/UTPA
This dissertation examines the relationship between executive compensation, firm performance and liquidity under imperfect corporate governance institution by using a novel Chinese dataset over 2001-2010. The first essay examines the determinants of Chinese executive compensation from the agency-based theoretical framework. I find that there is a positive relationship between Chinese executive compensation and firm performance. The weak corporate governance in China exhibits strong liquidity and control effects after the split-share structure reform. It seems that CEO duality, the establishment of compensation committee, and the involvement of state ownership in Chinese public firms may lead executive compensation to a relation-based rather …
Capm And Irrational Market: Theories And Empirical Studies, Jaehan Koh
Capm And Irrational Market: Theories And Empirical Studies, Jaehan Koh
Theses and Dissertations - UTB/UTPA
With a new interpretation of the Capital Asset Pricing Model (CAPM), this dissertation explains that the CAPM has an implied assumption of no mispricing. The CAPM should work if mispricing is removed from all assets in the market, leading to the Rational CAPM. The Rational CAPM measures value changes of the market, and then yields value changes of an asset/portfolio by employing value changes of the market in the model. For the Rational CAPM, this dissertation explains that risk, mispricing, irrationality and (investor) sentiment all indicate the same. Using the value changes from the Rational CAPM and historical dividend yields, …
The Impact Of Financial And Trade Openness On Economic Growth And Stock Returns: The Case Of Africa, Tibebe Abebe Assefa
The Impact Of Financial And Trade Openness On Economic Growth And Stock Returns: The Case Of Africa, Tibebe Abebe Assefa
Theses and Dissertations - UTB/UTPA
The debate on whether financial development and stock market help growth is ongoing. In the context of Africa where there exists a strong need and potential for growth, it is important to revisit the topic in order to address the problem of economic underdevelopment. In this dissertation, we focus on seventeen African countries with two main objectives: First, to investigate the relationship between financial and trade openness, and economic growth. Second, we investigate the association of African real stock index returns with financial and trade openness. For all analysis, we use Fixed Effect Models (FEM) and System Generalized Method of …
Three Essays On Cross-Listings From Emerging Markets, Omar Alejandro Esqueda
Three Essays On Cross-Listings From Emerging Markets, Omar Alejandro Esqueda
Theses and Dissertations - UTB/UTPA
During the last two decades, the number of cross-listed firms has been rising steadily. Recently, exchange-traded cross-listings from emerging markets have outnumbered those from developed countries. Chapter I shows an introduction to cross-listings. Chapter II analyzes the implications of ownership structure on the cross-listing premium of emerging-market firms that cross-list on U.S exchanges. Insider ownership is an important determinant of the value of cross-listed firms. The spike and fall in excess-value around the cross-listing year described in the extant cross-listing literature is substantially higher if the firm has insider ownership. In fact, investors are worse-off in the long-run when they …