Introduction                     In recent years, the internationalization of securities markets has accelerated its pace and broadened in scope as it has become easier to trade securities around the world. A growing number of countries — both developed and developing — are opening their stock markets to foreign investors and abolishing laws restricting their citizens from investing abroad. Companies that previously had to raise capital in the domestic market can now tap foreign sources of capital that demand lower rates of return. In order to do so, companies may list their stocks on foreign stock exchanges while investors may trade overseas.1-2 Globalization of the principal securities markets has become a reality with which capital markets have learned to cope since the beginning of the decade. Market participants have been following a clear tren ....