The Postlisting Returns Anomaly Revisited,

Authors

  • Richard B. Edelman The American University
  • H. Kent Baker The American University

DOI:

https://doi.org/10.1016/1057-0810(95)90042-X

Abstract

A study updates and extends prior research on the postlisting anomaly, namely the find that stocks moving from NASDAQ to a national exchange experience negative excess returns in the period after listing. The evidence shows that significantly negative postlisting abnormal returns persist in the 1982 through 1989 period for a sample of 12 1 NASDAQ-to- NYSE transfers. The results also show that certain prelisting characteristics (liquidity, EPS growth, and size) of firms areassociated with different patterns ofpostlisting return behavior. That is, not all newly listed stocks have negativepostlisting performance. Quarterly Journal of Business & Economics, Spring 1994, 33(2): 54-68. (Reprinted with permission of ABV/Inform, Copyright UMI.)

Published

1995-06-30

How to Cite

Edelman , R. B., & Baker , H. K. (1995). The Postlisting Returns Anomaly Revisited,. Financial Services Review, 4(1), 69. https://doi.org/10.1016/1057-0810(95)90042-X

Issue

Vol. 4 No. 1 (1995): Financial Services Review

Section

Abstracts of Articles on Individual Financial Management

License

Copyright (c) 1995 JAI Press Inc.

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Author(s) retain copyright and grant the Journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows to share the work with an acknowledgment of the work's authorship and initial publication in this Journal.

This license allows the author to remix, tweak, and build upon the original work non-commercially. The new work(s) must be non-commercial and acknowledge the original work.