Global markets exposure and price efficiency: An empirical analysis of order flow dynamics of NYSE-listed Indian firms

dc.contributor.author	Kumar, Kiran
dc.contributor.author	Mamidi, Varsha
dc.contributor.author	Marisetty, Vijaya
dc.date.accessioned	2022-03-27T02:12:21Z
dc.date.available	2022-03-27T02:12:21Z
dc.date.issued	2011-12-01
dc.description.abstract	We examine the effect of global competition for order flows, which arise due to listing of American Depository Receipts (ADRs) by six Indian firms on the NYSE, on the local market. Using order imbalance data for six months pre- and post-listing periods, which captures order flow dynamics, we show that price formation is more efficient in the post-listing period compared to pre-listing period. We also provide additional evidence on the local market quality due to ADRs listing. © 2011 Elsevier B.V.
dc.identifier.citation	Journal of International Financial Markets, Institutions and Money. v.21(5)
dc.identifier.issn	10424431
dc.identifier.uri	10.1016/j.intfin.2011.04.004
dc.identifier.uri	https://www.sciencedirect.com/science/article/abs/pii/S1042443111000229
dc.identifier.uri	https://dspace.uohyd.ac.in/handle/1/4974
dc.subject	American depository receipts
dc.subject	Market efficiency
dc.subject	Order imbalance
dc.subject	Serial dependence
dc.title	Global markets exposure and price efficiency: An empirical analysis of order flow dynamics of NYSE-listed Indian firms
dc.type	Journal. Article
dspace.entity.type

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