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- W2045784051 abstract "Prior studies find increased bid‐ask spread around earnings announcements of U.S. firms. These findings show that increased adverse selection cost is the dominant factor affecting bid‐ask spread. Using a sample of foreign firms that are cross‐listed on Nasdaq as American Depositary Receipts, we find that there is significant decrease in bid‐ask spread around earnings announcements of these foreign firms. The results suggest that increased trading volume is the dominant factor affecting the bid‐ask spread of American Depositary Receipts around earnings announcements." @default.
- W2045784051 created "2016-06-24" @default.
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- W2045784051 date "2005-03-01" @default.
- W2045784051 modified "2023-10-17" @default.
- W2045784051 title "Change in Bid‐Ask Spread Around Earnings Announcements of U.S. — Listed Foreign Firms" @default.
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- W2045784051 doi "https://doi.org/10.1108/eb043429" @default.
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