...Javier Rodríguez; Wilfredo Toledo Purpose – Single-listed American depositary receipts (ADRs) are traded in US markets, while their underlying share is not listed in the firm’s home market. The purpose of this paper is to empirically examine the factors affecting the returns and volatility...

... Receipts (ADRs). Design/methodology/approach The authors examine 190 option introductions on ADRs over the period of 1982 to 2006. The question of how ADRs are chosen for options listing, and whether those criteria differ from those found using purely domestic options, is addressed using logistic...