Title

Competitive And Information Effects Of Cross-Border Stock Listings

Keywords

F30; G14; G15

Abstract

We examine the effect of 269 cross-border listings on rivals in the listing and domestic markets and find that U.S. rivals experience significant gains whereas domestic rivals do not. Both competitive and information effects are important in explaining the reaction of U.S. rivals. Regarding the competitive effects, the reaction of rivals is less favorable when listings originate in developed countries and more favorable when listing firms do not have prior operating presence in the United States. Regarding the information effects, the reaction is less favorable when listings are combined with equity offerings and more favorable when the listing is the first to occur within an industry. © 2017 Wiley. All rights reserved.

Publication Date

1-1-2002

Publication Title

Journal of Financial Research

Volume

25

Issue

3

Number of Pages

399-413

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1111/1475-6803.00026

Socpus ID

58049141824 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/58049141824

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