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Pricing of American Depositary Receipts under Market Segmentation

โœ Scribed by Hsing Fang; Jean C.H. Loo


Book ID
117701148
Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
122 KB
Volume
13
Category
Article
ISSN
1044-0283

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Pricing efficiency of the S&P 500 index
โœ Quentin C. Chu; Wen-Liang Gideon Hsieh ๐Ÿ“‚ Article ๐Ÿ“… 2002 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 160 KB

## Abstract Standard & Poor's Depositary Receipts (SPDRs) are exchange traded securities representing a portfolio of S&P 500 stocks. They allow investors to track the spot portfolio and better engage in index arbitrage. We tested the impact of the introduction of SPDRs on the efficiency of the S&P