| dc.description.abstract | The main objective of this study is to establish whether there is a difference in share
prices for companies that are cross listed and those that are not.
This study is an event study, which will be conducted through a case study. The main
sample consists of all foreign firms that cross-list common shares on NSE, DSE, and
USE between January 2000 and January 2007, that share price data available on Data
Sources for at least 2 years before and 2 years after cross-listing. This study was
facilitated by the use of secondary data from annual reports of quoted companies. This
data is available at the NSE Library and can also be obtained in company libraries. To
identify the effect of cross-listing on the share prices for the companies that are cross
listed in the East African Stock Exchanges, the study considers weekly share prices
before and after cross-listing (in Kshs).
From the findings one can safely conclude that the first day market adjusted returns were
computed for the 3 stocks as shown in appendix 1. The stocks have an average return of
between -0.416% and 0.711%. | en |
