Note---Gains from International Dual Listing

Joseph Yagil and Zivan Forshner
Additional contact information
Joseph Yagil: Department of Business Administration, Haifa University, Haifa 31999, Israel and New York University, New York, New York 10006
Zivan Forshner: Carnegie-Mellon University, Pittsburgh, Pennsylvania 15213

Management Science, 1991, vol. 37, issue 1, 114-120

Abstract: This study presents an attempt to explain how international dual listing of securities can reduce the effects of segmented international markets. By applying the mean-variance model we show that, for a return generating process given by the maximum distribution, the expected return on the dually listed security will be higher and the variance associated with it will be lower than for an otherwise identical (domestically) single listed security. This result appears to be consistent with the existence of dually listed securities in capital markets which are otherwise not integrated.

Keywords: utility theory; the single-index model; the mean-variance model; international dual listing (search for similar items in EconPapers)
Date: 1991
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://dx.doi.org/10.1287/mnsc.37.1.114 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:37:y:1991:i:1:p:114-120

Access Statistics for this article

More articles in Management Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().