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Firm-level access to international capital markets: evidence from Chilean equities

  • Holland, Sara B.
  • Warnock, Francis E.

High growth, liquid Chilean firms have greater relative weights in U.S. equity portfolios, but the most important determinant of a firm's portfolio weight is whether it is listed on a U.S. exchange. Cross-listing does not, however, appear to have permanent benefits: Weights in U.S. portfolios of firms that cross-listed in the mid-1990s increased at the expense of firms that cross-listed earlier. Put another way, firms appear to be able to access international capital at the time of the cross-listing, but this access may well be short-lived.

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Article provided by Elsevier in its journal Emerging Markets Review.

Volume (Year): 4 (2003)
Issue (Month): 1 (March)
Pages: 39-51

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Handle: RePEc:eee:ememar:v:4:y:2003:i:1:p:39-51
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/620356

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