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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/19298
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dc.contributor.authorCampbell, Kevinen_UK
dc.contributor.authorTabner, Isaacen_UK
dc.date.accessioned2018-01-09T04:02:09Z-
dc.date.available2018-01-09T04:02:09Z-
dc.date.issued2014-05en_UK
dc.identifier.urihttp://hdl.handle.net/1893/19298-
dc.description.abstractFirms that change their listing from the less regulated AIM to the more regulated main section of the London Stock Exchange exhibit positive abnormal returns on the announcement day. For firms moving in the opposite direction, both announcement and implementation day abnormal returns are negative. Following implementation, the pattern is reversed for both categories of firm. We show that differences in liquidity, conventional risk factors and in medium to long term firm survival rates between the two listing regimes do not explain the observed patterns of returns, suggesting that the answer lies in the different bonding requirements of the two market segments and an agency risk premium.en_UK
dc.language.isoenen_UK
dc.publisherElsevieren_UK
dc.relationCampbell K & Tabner I (2014) Bonding and the agency risk premium: An analysis of migrations between the AIM and the Official List of the London Stock Exchange. Journal of International Financial Markets, Institutions and Money, 30 (1), pp. 1-20. https://doi.org/10.1016/j.intfin.2014.01.004en_UK
dc.rightsPublished in Journal of International Financial Markets, Institutions and Money by Elsevier; Elsevier believes that individual authors should be able to distribute their accepted author manuscripts for their personal voluntary needs and interests, e.g. posting to their websites or their institution’s repository, e-mailing to colleagues. The Elsevier Policy is as follows: Authors retain the right to use the accepted author manuscript for personal use, internal institutional use and for permitted scholarly posting provided that these are not for purposes of commercial use or systematic distribution. An "accepted author manuscript" is the author’s version of the manuscript of an article that has been accepted for publication and which may include any author-incorporated changes suggested through the processes of submission processing, peer review, and editor-author communications.en_UK
dc.subjectCorporate Governanceen_UK
dc.subjectListing Changeen_UK
dc.subjectAgency Costsen_UK
dc.subjectAgency Risken_UK
dc.subjectBonding Costsen_UK
dc.subjectAlternative Investment Market (AIM)en_UK
dc.titleBonding and the agency risk premium: An analysis of migrations between the AIM and the Official List of the London Stock Exchangeen_UK
dc.typeJournal Articleen_UK
dc.identifier.doi10.1016/j.intfin.2014.01.004en_UK
dc.citation.jtitleJournal of International Financial Markets, Institutions and Moneyen_UK
dc.citation.issn1042-4431en_UK
dc.citation.volume30en_UK
dc.citation.issue1en_UK
dc.citation.spage1en_UK
dc.citation.epage20en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusAM - Accepted Manuscripten_UK
dc.author.emailisaac.tabner@stir.ac.uken_UK
dc.citation.date27/01/2014en_UK
dc.description.notesJEL Codes: G12, G14, G15, G30, G32, G34en_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.identifier.isiWOS:000334301500001en_UK
dc.identifier.scopusid2-s2.0-84894050561en_UK
dc.identifier.wtid648370en_UK
dc.contributor.orcid0000-0003-4239-8590en_UK
dc.contributor.orcid0000-0003-3738-7301en_UK
dc.date.accepted2014-01-17en_UK
dcterms.dateAccepted2014-01-17en_UK
dc.date.filedepositdate2014-02-25en_UK
rioxxterms.apcnot requireden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionAMen_UK
local.rioxx.authorCampbell, Kevin|0000-0003-4239-8590en_UK
local.rioxx.authorTabner, Isaac|0000-0003-3738-7301en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2014-02-25en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/all-rights-reserved|2014-02-25|en_UK
local.rioxx.filenameAIM2MAIN2AIM JIFMIM RR2 140114 Final.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source1042-4431en_UK
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