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• (author = "Ren, J.")
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Cross-listing and pricing efficiency: the informational and anchoring role played by the reference price

Author(s) : Chang, EC , Ren, J
Description : For a firm cross-listed in multiple markets, the price of the first-issued share serves as a reference in the pricing process of the subsequently-issued share.We argue that the reference has both an informational and an anchoring aspect, and that the relative importance of the anchoring effect incre...
Repository : The HKU Scholars Hub , View repository documents
Language(s) : English
Subject(s) : Cross-listing , Segmented market , Anchoring , IPO underpricing
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Publication Date(s) : 2010-10-31