The Effect of ADR & GDR Listing on Shareholder’s Wealth: Evidence from India

Chakrapani Chaturvedula

Accounting and Finance Research, 2018, vol. 7, issue 2, 174

Abstract: During the period January 2000 to December 2007, seventy nine companies raised capital through the ADR/GDR issues 99 times. This paper looks at the impact of ADR/GDR listing on shareholders wealth. Using an event study methodology and for the sample consisting of 13 ADR and 86 GDR listings the present study finds that ADR/GDR listing negatively effects shareholders wealth. The present study indicates that the potential drawbacks outweigh the benefits in international listing in Indian markets in the short run.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:afr111:v:7:y:2018:i:2:p:174

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