Does New York Stock Exchange Appreciate IFRS More than European Stock Markets? Evidences from Cross Listed Companies

2012 ◽  
Author(s):  
Maurizio Ricciardi
Keyword(s):  
New York ◽  
Stock Markets ◽  
Stock Exchange ◽  
Listed Companies ◽  
New York Stock Exchange ◽  
York Stock Exchange ◽  
European Stock Markets

Price Transmission and Market Openness

1998 ◽  
Vol 01 (02) ◽  
pp. 215-232
Author(s):  
Lifan Wu ◽  
Asani Sarkar
Keyword(s):  
New York ◽  
Hong Kong ◽  
Stock Prices ◽  
Stock Markets ◽  
Stock Exchange ◽  
Price Transmission ◽  
New York Stock Exchange ◽  
Response Patterns ◽  
Price Behavior ◽  
York Stock Exchange

This paper studies the degree of impact of stock prices listed on the New York Stock Exchange and Tokyo Stock Exchange regarding price behavior in Asian stock markets. Our evidence shows that the pattern and magnitude of impact varies. Returns in Hong Kong, Singapore, and Malaysia are more sensitive than those in Taiwan, Korea and Thailand. The response patterns in the Asian markets suggest that foreign influence is significantly correlated to the degree of market openness.

Transitory Price Changes in the Chinese Stock Markets

2007 ◽  
Vol 10 (04) ◽  
pp. 519-540 ◽  
Author(s):  
Zhaohui Zhang ◽  
Howard Nemiroff ◽  
Jiamin Wang ◽  
Khondkar Karim
Keyword(s):  
New York ◽  
Stock Markets ◽  
Trading Volume ◽  
Stock Exchange ◽  
New York Stock Exchange ◽  
Price Limits ◽  
Price Reversal ◽  
York Stock Exchange ◽  
Chinese Stock Markets ◽  
Opening And Closing

This paper examines opening and closing return patterns on the Chinese stock markets. We find that open-to-open returns are significantly more volatile than close-to-close returns. In addition, the correlation of the overnight return with the following daytime return is significantly negative, while the correlation of the daytime return with the following overnight return is strongly positive. The results show strong price continuation around the close and strong price reversal at the open, and the findings are not sensitive to trading volume. The findings are less likely to be caused by price limits. Our results are inconsistent with previous findings from the Tokyo Stock Exchange, yet similar to those from the New York Stock Exchange, albeit under a different market structure.

A comparative study on strategy disclosure between emerging markets and developed markets

2019 ◽  
Vol 11 (1) ◽  
pp. 2-22
Author(s):  
Morungwa Lumka Phala ◽  
Yaeesh Yasseen ◽  
Nirupa Padia ◽  
Waheeda Mohamed
Keyword(s):  
New York ◽  
Stock Exchange ◽  
Emerging Market ◽  
Listed Companies ◽  
Annual Reports ◽  
New York Stock Exchange ◽  
Content Type ◽  
Johannesburg Stock Exchange ◽  
York Stock Exchange ◽  
Market Sample

Purpose This study aims to compare the extent of voluntary strategy disclosure in the annual/integrated reports of listed companies in an emerging market with the extent of strategy disclosure in the annual/integrated reports of listed companies in a developed market. Design/methodology/approach A developed market sample that was made up of the top 50 companies on the New York Stock Exchange and the Australian Stock Exchange was compared to an emerging market sample that was made up of the top 50 companies on the Johannesburg Stock Exchange and the Bombay Stock Exchange. The comparison was conducted by scoring the amount of strategy disclosure reported in the annual/integrated reports of the companies for the years 2011, 2012 and 2013. Findings The emerging market companies had average to good strategy disclosures in their annual reports, whereas the annual reports of companies in the developed market showed low strategy disclosure. Originality/value This study expanded upon the limited research available on strategy disclosure by comparing the extent of strategy disclosures in two developmental markets (the developed and emerging market).

scholarly journals Day Of The Week Effects In Intra-Day Volatility Patterns Of Equity Markets: A Study Of US And European Stock Markets

2011 ◽  
Vol 5 (6) ◽  
Author(s):  
Deniz Ozenbas ◽  
Zaman Zamanian
Keyword(s):  
New York ◽  
Stock Markets ◽  
Stock Price ◽  
Stock Exchange ◽  
Price Volatility ◽  
York Stock Exchange ◽  
Before And After ◽  
Trading Period ◽  
Day Of The Week ◽  
European Stock Markets

The pattern of intra-day stock price volatility is established in the academic literature as having a U-shape, with heightened volatility at the open and at the close compared to the other periods of the trading day. We establish in this study that there are variations in this pattern across different days of the week. More precisely, we see that the intra-day U-shaped pattern is more accentuated when we take into consideration the day of the week. Using intra-day data from the New York Stock Exchange, London Stock Exchange, Deutsche Boerse and Euronext Paris stock markets we show that Monday openings are consistently more volatile than opening periods of other days, and similarly Friday closings are consistently more volatile than closing periods of other days. These findings indicate the increased difficulty of price discovery just before and after the weekend non-trading period. Variance-ratio statistics are employed to test for the significance of our findings.

scholarly journals Riesgo-país y tasas de descuento para empresas latinoamericanas

2007 ◽  
Vol 12 (22) ◽  
pp. 73-110
Author(s):  
Jaime Sabal ◽  
◽  
Aleida Sarmiento ◽  
Keyword(s):  
New York ◽  
Latin American ◽  
Stock Markets ◽  
Stock Exchange ◽  
Market Dynamics ◽  
New York Stock Exchange ◽  
Discount Rates ◽  
York Stock Exchange ◽  
Local Stock

This paper identifi es the Latin American companies for which the beta calculation is possible and consequently their corporate discount rates with an acceptable degree of confi dence. The selection is based on companies whose shares are listed with suffi cient liquidity in both local stock markets as well as the New York Stock Exchange. At the time of the sample, 88 companies had qualifi ed for the direct beta calculation. The instability of the liquidity indicators and the market dynamics themselves make it necessary to update the analysis often.

FUNDS STATEMENTS: THE ACCOUNTING PRINCIPLES BOARD WAS TWICE BEHIND THE CURVE

2015 ◽  
Vol 42 (2) ◽  
pp. 91-102 ◽  
Author(s):  
Stephen A. Zeff
Keyword(s):  
New York ◽  
Stock Exchange ◽  
Securities And Exchange Commission ◽  
New York Stock Exchange ◽  
Accounting Principles ◽  
York Stock Exchange

This paper discusses the circumstances in which the Accounting Principles Board (APB) issued Opinions 3 and 19, in 1963 and 1971, respectively, when the Board encouraged and then required companies to publish a statement of source and application of funds, known as the funds statement. In doing so, the Board both times lagged behind company practice and the views of influential organizations, including the New York Stock Exchange and the Securities and Exchange Commission.

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