Holding period returns from NASDAQ traded ADRs

Mark Schaub

Applied Economics Letters, 2019, vol. 26, issue 20, 1689-1693

Abstract: This study examines the initial three-year holding period returns of the 202 ADRs listed from 1990 through 2015 and traded on the NASDAQ relative to the corresponding holding period returns(HPRs) of the NASDAQ Index. The average ADR holding period returns and excess returns exhibit skewed results. The average ADR 3-year holding period return was 47.7 percent while the average excess holding-period return was 13.2 percent. The median ADR lost 34.1 percent and the median ADR excess HPR was −31.2 percent relative to the NASDAQ. European listings outperformed those from other regions. In particular, ADRs from firms headquartered in the UK and Ireland were the best performers.

Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/13504851.2019.1591593 (text/html)
Access to full text is restricted to subscribers.

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:taf:apeclt:v:26:y:2019:i:20:p:1689-1693

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/13504851.2019.1591593

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().