The Dual Listing of Austrian Companies in Vienna and Frankfurt: Dependence Analysis

Lukasz Gurgul, Sanela Omerovic and Robert Syrek
Additional contact information
Lukasz Gurgul: Jagiellonian University in Cracow, Poland
Sanela Omerovic: University of Graz, Austria
Robert Syrek: Jagiellonian University in Cracow, Poland

Management, 2015, vol. 10, issue 1, 3-15

Abstract: International capital flows can be hampered by a variety of barriers such as transaction costs, information costs, and legal restrictions. The solution in this situation can be dual listing. The framework of the research presented here assumes that domestic securities are dually listed on a foreign capital market, while none of the foreign securities is dually listed on the domestic capital market. This paper is concerned with a dependence analysis of the log-levels and returns of Austrian stocks listed in Frankfurt and Vienna. The important issue is dynamic linear and non-linear causality between log-levels (returns) of prices and the indices ATX and DAX. In this context the important directions of causality are found along with the level of relations of the selected types of causality.

Keywords: dual listing; linear and non-linear causality; cointegration (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.fm-kp.si/zalozba/ISSN/1854-4231/10_003-015.pdf full text (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:mgt:youmng:v:10:y:2015:i:1:p:3-15

Ordering information: This journal article can be ordered from
http://www.mng.fm-kp.si

Access Statistics for this article

Management is currently edited by Klemen Kavcic

More articles in Management from University of Primorska, Faculty of Management Koper Contact information at EDIRC.
Bibliographic data for series maintained by Alen Jezovnik ().