Abstract

MENDIOLA, Alfredo. ADR Effects on Domestic Latin American Financial Market. Journal of Economics, Finance and Administrative Science [online]. 2010, vol.15, n.28, pp.45-64. ISSN 2077-1886.

The purpose of this paper is to revisit and extend previous research work that examines the ADR-listing effects on the trading process of all the domestically-listed stocks in the main Latin American exchanges. The most important result is consistent with the idea of a greater isolation (from global markets) of the singly-listed stocks in the post-cross-listing period. These results persist over the cross-listing months. As expected, the cross-listed stocks become more integrated in the post-cross listing period.

Keywords : International finance; economic integration.

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