Tests of the Value Line ranking system: some international evidence
Article Abstract:
A study was conducted on the Value Line Investment Survey's predictive ability in recommending foreign stocks. The rank changes of 31 firms based outside North America and ranked by Value Line during the period Jan. 1980-Dec. 1986 were analyzed. Results showed that Value Line rank changes may provide information on the market concerning foreign stocks with very good or very poor prospects. Value Line's failure to match its international recommendations from domestic ones was not found to be caused by problems in forecasting exchange rates.
Publication Name: Journal of Business Finance and Accounting
Subject: Business
ISSN: 0306-686X
Year: 1995
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A note on the transmission of public information across international stock markets
Article Abstract:
Public information affects the volatility of international stock markets. Specifically, the absence of price information due to the closing of the US market affects both volatility and trading volume in the Canadian market. This implies that information or stocks from the US have a greater impact on other markets while the reverse may not be true. Investors, therefore, apparently look to the US market for leadership and macro-market information.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1992
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Disclosure environment and listing on foreign stock exchanges
Article Abstract:
The factors that influence a company's listing of its stock on a foreign stock market are studied using a signalling model. Results show that foreign companies list their shares in exchanges with strict disclosure requirements such as the New York Stock Exchange due to the perception that benefits will outweigh compliance costs. Listing in a strict environment signals to investors the management's confidence in future profitability.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1995
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