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A strategic perspective of cross-listing by emerging market firms: Evidence from Indonesia, Mexico, Poland and South Africa

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  • Temouri, Yama
  • Driffield, Nigel
  • Bhaumik, Sumon Kumar

Abstract

This paper develops an approach to the analysis of cross-listing that brings together the financial and non-financial benefits of the phenomenon. We employ the real options framework, which offers a detailed characterisation of the strategic issues associated with cross-listing, in the context of internationalisation of emerging market firms. The associated hypotheses are tested using firm-level data from four large emerging market economies with different profiles in terms of institutional quality and financial development. This allows us to extend the existing literature by isolating the relative importance of institutional quality and financial development for the benefits of cross-listing.

Suggested Citation

  • Temouri, Yama & Driffield, Nigel & Bhaumik, Sumon Kumar, 2016. "A strategic perspective of cross-listing by emerging market firms: Evidence from Indonesia, Mexico, Poland and South Africa," Journal of International Management, Elsevier, vol. 22(3), pages 265-279.
  • Handle: RePEc:eee:intman:v:22:y:2016:i:3:p:265-279
    DOI: 10.1016/j.intman.2016.04.003
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    Cited by:

    1. Filatotchev, Igor & Bell, R. Greg & Rasheed, Abdul A., 2016. "Globalization of Capital Markets: Implications for Firm Strategies," Journal of International Management, Elsevier, vol. 22(3), pages 211-221.
    2. repec:eee:worbus:v:53:y:2018:i:2:p:177-193 is not listed on IDEAS

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