Please use this identifier to cite or link to this item: https://ptsldigital.ukm.my/jspui/handle/123456789/639689
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dc.contributor.authorSuh, Jungwon-
dc.date.accessioned2023-11-21T06:46:16Z-
dc.date.available2023-11-21T06:46:16Z-
dc.identifier.urihttps://ptsldigital.ukm.my/jspui/handle/123456789/639689-
dc.description.abstractADR share prices tend to deviate from their parity values under foreign own- ership restrictions and other capital barriers. Time series of ADR premiums or discounts under such capital barriers provide an opportunity to examine the ex- istence of a U.S. specific factor or U.S. investor sentiment. This paper studies a sample of ADRs from emerging countries and finds that ADR premium changes tend to comove with the aggregate U.S. market returns. This result suggests the existence of a U.S. specific factor or U.S. investor sentiment, echoing Bodurtha, Kim and Lee's result in their study of closed-end country fund premiums.en_US
dc.language.isoenen_US
dc.rightsUKMen_US
dc.subjectADRsen_US
dc.subjectNoise traderen_US
dc.subjectMarket sentimenten_US
dc.titleADRs and U.S. market sentimenten_US
dc.typeSeminar Papersen_US
dc.format.pages95en_US
dc.identifier.callnoHG4026.A536 2001 katsemen_US
dc.contributor.conferencenameThe thirteenth Annual PACAP/FMA Finance Conference-
dc.coverage.conferencelocationWestin Chosun Hotel, Seoul, Korea-
dc.coverage.conferencelocationRadisson Plaza Hotel, Seoul, Korea-
dc.date.conferencedate2001-07-05-
Appears in Collections:Seminar Papers/ Proceedings / Kertas Kerja Seminar/ Prosiding

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