The purpose of this monograph is to survey the academic literature on the economic
implications of the corporate decision to list shares on an overseas stock exchange. My …

This paper studies the role of American Depository Receipts (ADRs) in international
diversification by using a sample of 113 ADRs from eight foreign countries over 1980–1994 …

Initial public and seasoned equity offerings of American depositary receipts (ADRs) yield
significantly positive market-adjusted returns both in early trading and over the longer run …

This paper provides an empirical analysis of 123 American depositary receipts (ADRs) from
16 countries. The paper finds that the returns on ADRs have significant risk exposures to the …

We investigate the relative advantages of American depositary receipts (ADRs), the
underlying Australian stocks and the Australian equity index for a US investor seeking …

Cross-listed shares may confound government efforts to control capital outflows by providing
a legal means through which investors can transfer their wealth outside the country. We …

In this paper we compare the distributions of ADR returns and the returns of the locally
traded shares between Chile and Argentina. This comparison is interesting because both …

We examine how exchange rate changes affect the security returns and how economic and
translation exposure components of exchange rate risk are priced across countries …

This book is an examination of the management of portfolios of high net worth individuals
(HNWIs). Jean LP Brunel identifies the factors which demand a different approach from that …

Despite the benefits of international diversification investors continue to display a preference
for home based investments. Given this preference we investigate whether it is possible to …