Competitive And Information Effects Of Cross-Border Stock Listings
F30; G14; G15
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.
Journal of Financial Research
Number of Pages
Source API URL
Bradford, Bruce M.; Martin, Anna D.; and Whyte, Ann Marie, "Competitive And Information Effects Of Cross-Border Stock Listings" (2002). Scopus Export 2000s. 2723.