The Postlisting Returns Anomaly Revisited,
DOI:
https://doi.org/10.1016/1057-0810(95)90042-XAbstract
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.)
Downloads
Published
Issue
Section
License
Copyright (c) 1995 JAI Press Inc.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Author(s) retain the copyright and full publishing rights without restriction.
Author(s) grant the Journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows reusers to distribute, remix, adapt, and build upon the material in any medium or format, for noncommercial purposes only. Reusers must acknowledge the work's authorship and initial publication in this Journal.
Noncommercial means not primarily intended for or directed towards commercial advantage or monetary compensation.
In addition, FSR grants to the UGA Libraries a worldwide, non-exclusive license to all content published by the Journal, including metadata, that is necessary to publish, transmit, and index the Journal and to preserve its content over time.
