Japanese management views on overseas exchange listings: survey results
AbstractPrevious empirical studies cast a doubt on a positive effect of overseas listings on stockholders' wealth. We should investigate reasons for the steady growth of overseas listings other than the stockholders' wealth maximization. However, we have little information about management views on overseas listings except regarding U.S. firms. In this paper, we used a mail questionnaire to obtain information on overseas listing decisions of Japanese companies. As our survey shows, Japanese managers regard the disclosure and financial reporting requirements as the primary obstacles to overseas listings. This is why many Japanese companies do not list their stocks on overseas stock exchange in spite of the fact that they acknowledge the beneficial effects of overseas listings.
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Bibliographic InfoPaper provided by Federal Reserve Bank of San Francisco in its series Pacific Basin Working Paper Series with number 99-05.
Date of creation: 1999
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Other versions of this item:
- Yamori, N. & Baba, T., T., 1999. "Japanese Management Views on Overseas Exchange Listings: Survey Results," Papers pb99-05, Economisch Institut voor het Midden en Kleinbedrijf-.
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
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