Abstract
This paper examines the early and long-term performance of Mexican American depository receipts (ADRs) issued on the New York Stock Exchange from 1991 to mid-1996 (shortly before and after NAFTA took effect in early 1994). ADR return behaviour was measured using initial public offerings event study methodology and compared with that of other ADR performance studies. Overall, Mexican ADRs performed well in the early trading, but substantially underperformed the market benchmark in the long run.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
