Write a 3 to 5 page paper (1000 to 1500 words) in APA format, original essay, not plagiarized
a) Why is there is a positive price response when a company's shares are cross-listed?
b) Why might the response for emerging-market firms might be larger than for developed-marketfirms?
c) Without knowing that equity issues in a domestic context are associated with negative priceresponses, argue whether or not the difference between capital-raising and non-capital raisingADRs a surprise?
d) If you were a U.S.-based investor who wanted to diversity your stock portfolio internationally, explain the advantages ADRs offer you and discuss whether or not it would be wise to restrictyour international portfolio only to ADRs.