Work

The Postlisting Returns Anomaly Revisited,

Year: 1995

Type: article

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.)

Source: Financial Services Review

DOI: 10.1016/1057-0810(95)90042-x

Authors: Richard B. Edelman, H. Kent Baker

Language: English

Topic: Financial Markets and Investment Strategies

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: diamond

OpenAlex ID: W2892016232

FWCI: 0.831

Cites: 16

Cited by: 7

Related to: 10