Listing on the New York Stock Exchange, Prediction and Changes in Value: An Empirical Study |
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1-Control 1-Listers Altman's AMEX and OTC AMEX sample AMEX to NYSE Ann to List announcement to listing announcement week AVERAGE SPREAD bankrupt BET1 BET2 bid/ask spread change in value classification results coefficients developed companies consistent control firms control sample correct classification rates cutoff Data Log DEV T-VALUE discriminant analysis model Divided in Halves dividend yield expected and unexpected Financial financial ratios Independent Variable institutional ownership investor anticipation Journal of Finance L+2 to L+10 LIST 17 lister groups listing period listing week LMKTVL log transformed data LPCINST LPCVOL market value Measures of Relative method Model Average NASDAQ negative residuals non-listers NYSE Listers OTC firms OTC market OTC sample OTC to NYSE plots the listing POS NUM OBS positive residuals POST 28 prior to listing rank Prop Relative Significance Res(Z tests for changes trading volume transaction costs unexpected listers Univariate Univariate Statistics volume data weeks prior York Stock Exchange