We are delighted to welcome Te Bao from Nanyang Technological University Singapore to our FiRe Online Research Seminar. Te Bao is an Associate Professor of Economics whose research focuses on experimental economics and behavioral finance.
He will present “Listing Premium in Cryptocurrency Markets”, joint work with Mengzhong Ma. The paper documents a sizeable listing premium on top-tier cryptocurrency exchanges, with average cumulative abnormal returns of about 7.2% around the listing date. It further develops a conditional event-study framework to analyze how private information is revealed through sequential and simultaneous multi-exchange listings. The findings offer new insights into price discovery in cryptocurrency markets and have broader implications for research on IPO underpricing and cross-listings.