The Puzzle in Post‐Listing Common Stock Returns
作者:
JOHN J. McCONNELL,
GARY C. SANGER,
期刊:
The Journal of Finance
(WILEY Available online 1987)
卷期:
Volume 42,
issue 1
页码: 119-140
ISSN:0022-1082
年代: 1987
DOI:10.1111/j.1540-6261.1987.tb02554.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
ABSTRACTPrior studies indicate that common stocks tend to earn negative returns immediately following listing on the NYSE. The authors document the phenomenon in detail and investigate a number of possible explanations. No full explanation is discovered, although several are ruled out.
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