The Puzzle in Post‐Listing Common Stock Returns
详细记录了普通股在纽约证券交易所上市后立即出现负回报的现象，并检验了多种可能的解释，但未找到完整答案。
ABSTRACT Prior studies indicate that common stocks tend to earn negative returns immediately following listing on the NYSE. The authors document the phenomenon in detail and investigate a number of possible explanations. No full explanation is discovered, although several are ruled out.