Limited investor attention and the mispricing of American Depositary Receipts

Stefan Eichler

Economics Letters, 2012, vol. 115, issue 3, 490-492

Abstract: I test whether more investor attention leads to a better exploitation of arbitrage opportunities and, in turn, to less mispricing of American Depositary Receipts (ADRs). Using data on 536 stocks I find that more investor attention significantly reduces ADR mispricing.

Keywords: Investor attention; Arbitrage; American Depositary Receipt; Mispricing (search for similar items in EconPapers)
JEL-codes: D82 F30 G15 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:3:p:490-492

DOI: 10.1016/j.econlet.2011.12.111

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