Note(s): This table reports short-run mean differences in KOSPI 200 market share around the offshore listing event. Panel A uses the (−20, +20) trading-day event window, and Panel B uses the (−30, +30) trading-day event window. Diff is calculated as the pre-event mean minus the post-event mean. Volume Share is defined as KOSPI 200 trading volume divided by the combined trading volume of KOSPI 200, KOSDAQ 150, and KRX 300. Value Share is defined analogously using trading value. t-statistics are reported for tests of mean differences. ***, **, and * denote significance at the 1%, 5%, and 10% levels, respectively