Does NYSE Listing Affect Firm Visibility?

Posted: 3 May 1998

See all articles by H. Kent Baker

H. Kent Baker

American University - Kogod School of Business

Gary E. Powell

Hood College

Daniel G. Weaver

Rutgers Business School

Date Written: Undated

Abstract

Corporate managers often cite improved visibility as a motive for listing. Recent studies suggest that firms list after a period of strong growth, which may also attract increased visibility. This study examines listing as a determinant of firm visibility levels. We compare visibility changes for a large sample of firms that listed on the NYSE to a matched sample of firms remaining on Nasdaq. The evidence shows that NYSE listing leads to visibility gains when measured by the number of analysts following a firm as well as institutional ownership. However, additional tests show that the gains in visibility are not due to listing but instead appear to be related to pre-listing financial performance.

JEL Classification: G10

Suggested Citation

Baker, H. Kent and Powell, Gary E. and Weaver, Daniel G., Does NYSE Listing Affect Firm Visibility? (Undated). Available at SSRN: https://ssrn.com/abstract=7639

H. Kent Baker

American University - Kogod School of Business ( email )

4400 Massachusetts Avenue NW
Washington, DC 20816-8044
United States
202-885-1949 (Phone)
202-885-1992 (Fax)

Gary E. Powell

Hood College

401 Rosemont Ave
Frederick, MD 21701

Daniel G. Weaver (Contact Author)

Rutgers Business School ( email )

94 Rockafeller Road
Piscataway, NJ 08854
United States
848.445.5644 (Phone)
732.445.2333 (Fax)

HOME PAGE: http://weaver.rutgers.edu

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