Purdue University and Louisiana State University, respectively. The authors wish to thank an anonymous referee and an associate editor of this Journal for helpful suggestions. All remaining errors are our responsibility.
The Puzzle in Post-Listing Common Stock Returns
Article first published online: 30 APR 2012
1987 The American Finance Association
The Journal of Finance
Volume 42, Issue 1, pages 119–140, March 1987
How to Cite
McCONNELL, J. J. and SANGER, G. C. (1987), The Puzzle in Post-Listing Common Stock Returns. The Journal of Finance, 42: 119–140. doi: 10.1111/j.1540-6261.1987.tb02554.x
- Issue published online: 30 APR 2012
- Article first published online: 30 APR 2012
Prior studies indicate that common stocks tend to earn negative returns immediately following listing on the NYSE. The authors document the phenomenon in detail and investigate a number of possible explanations. No full explanation is discovered, although several are ruled out.