Institutional Price Pressure: Evidence From NASDAQ - NYSE Listings

The abnormal return behavior of firms that change their listing from the NASDAQ to the NYSE is found to be in the main a function of institutional ownership changes rather than changes in outstanding shareholder ownership as suggested in previous work. Institutional price pressure rather than change...

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Bibliographic Details
Published in:Journal of applied business research 2011-01, Vol.20 (2)
Main Author: Senteza, Jimmy D.
Format: Article
Language:English
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Summary:The abnormal return behavior of firms that change their listing from the NASDAQ to the NYSE is found to be in the main a function of institutional ownership changes rather than changes in outstanding shareholder ownership as suggested in previous work. Institutional price pressure rather than changes in overall shareholder ownership is found to explain the pre- and the post- listing abnormal returns of sample firms.
ISSN:0892-7626
2157-8834
DOI:10.19030/jabr.v20i2.2207