Abdallah, Wissam and Goergen, Marc 2008. Does corporate control determine the cross-listing location? Journal of Corporate Finance 14 (3) , pp. 183-199. 10.1016/j.jcorpfin.2008.03.003 |
Official URL: http://dx.doi.org/10.1016/j.jcorpfin.2008.03.003
Abstract
This paper explains the choice of the cross-listing location with particular emphasis on the level of investor protection provided by the host market. We find that firms with concentrated control, with a higher level of risk and those with more pronounced financing needs cross-list on a market with better investor protection. We also find support for the bonding hypothesis as firms from markets with weak shareholder protection tend to cross-list on markets with significantly higher shareholder protection.
Item Type: | Article |
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Date Type: | Publication |
Status: | Published |
Schools: | Business (Including Economics) |
Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HG Finance |
Uncontrolled Keywords: | Cross-listing; Corporate governance; Corporate control; Investor protection. |
Publisher: | Elsevier |
ISSN: | 0929-1199 |
Last Modified: | 04 Jun 2017 03:12 |
URI: | http://orca.cf.ac.uk/id/eprint/18105 |
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