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What is ADR

ADR stands for American Depository receipt. It is issued by the United States depository bank and is a negotiable certificate which represents a certain number of shares. This is often just one share of company stock in a foreign company. Currently, the ADR is traded like any domestic shares on United States stock markets.

Are There Fees Associated with ADR

The depository banks do charge "custody fees" which are sometimes called "Depository Service Fees." These fees compensate the depository banks for their inventory of non-US shares. Also, the compliance, dividend, and recordkeeping are covered by these fees.

Further Reading


The anatomy of financial crises: Evidence from the emerging ADR market
www.sciencedirect.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

The contagious effects of the Asian financial crisis: some evidence from ADR and country fundsThe contagious effects of the Asian financial crisis: some evidence from ADR and country funds
www.sciencedirect.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

Investor protection and the liquidity of cross-listed securities: Evidence from the ADR marketInvestor protection and the liquidity of cross-listed securities: Evidence from the ADR market
www.sciencedirect.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

Are Financial Crises Indeed'Crises?'Evidence from the Emerging ADR MarketAre Financial Crises Indeed'Crises?'Evidence from the Emerging ADR Market
papers.ssrn.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

Determinants of dividend policies for ADR firmsDeterminants of dividend policies for ADR firms
www.emerald.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

Stock splits: Signaling or liquidity? The case of ADR 'solo-splits'Stock splits: Signaling or liquidity? The case of ADR 'solo-splits'
www.sciencedirect.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

Price determinants of American Depositary Receipts (ADR): a cross-sectional analysis of panel dataPrice determinants of American Depositary Receipts (ADR): a cross-sectional analysis of panel data
www.tandfonline.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

US ADR and Hong Kong H-share discounts of Shanghai-listed firmsUS ADR and Hong Kong H-share discounts of Shanghai-listed firms
www.sciencedirect.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

Effects of exchange-rate and interest-rate risk on ADR pricing behaviorEffects of exchange-rate and interest-rate risk on ADR pricing behavior
www.sciencedirect.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …

Do ADR investors herd?: Evidence from advanced and emerging marketsDo ADR investors herd?: Evidence from advanced and emerging markets
www.sciencedirect.com [PDF]
We study the anatomy of recent financial crises in Mexico, East Asia, Russia, Brazil, Turkey, and Argentina by investigating the efficiency and pricing of the emerging American depositary receipt (ADR) market. We use a non-parametric technique to test for persistent …



Q&A About What is ADR


What are the benefits of investing in ADRs?

The investor can invest in foreign companies without having to go through the hassle of opening a foreign account.

Where do they trade on the stock exchange?

They trade on the New York Stock Exchange (NYSE).

Who issues these certificates?

These certificates are issued by banks and trust companies.

What is ADR?

ADR stands for American Depository Receipt.

How do you buy them?

You can buy them from any bank or broker who deals with these securities.