Figure 2
The image contains two line graphs side by side, each representing different aspects of market share trends over time. The left graph, labeled Panel A, shows Volume Share, while the right graph, labeled Panel B, shows Value Share. Both graphs have the x-axis labeled as Event Time, ranging from -300 to 200, and the y-axis labeled as Volume Share and Value Share respectively, ranging from 0.10 to 0.45. Gray dots denote daily observations. The solid blue line represents the pre-event fitted trend, the dashed blue line represents the counterfactual continuation of the pre-event trend, and the red line represents the fitted post-event trend. The vertical dashed line indicates the offshore listing event date. In both graphs, the blue lines show an upward trend before the event, while the red lines show a decline after the event. The graphs illustrate the impact of the offshore listing event on the market share dynamics of the KOSPI 200 index.Fitted trends in market share. This figure plots the long-run fitted patterns for KOSPI 200 market share around the offshore listing event. Panel A presents Volume Share, and Panel B presents Value Share. Gray dots denote daily observations. The solid blue line represents the pre-event fitted trend, the dashed blue line represents the counterfactual continuation of the pre-event trend, and the red line represents the fitted post-event trend. The vertical dashed line indicates the offshore listing event date