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Citations for "The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom"

by G. Andrew Karolyi

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  1. Luo, Yongli & Fang, Fang & Esqueda, Omar A., 2012. "The overseas listing puzzle: Post-IPO performance of Chinese stocks and ADRs in the U.S. market," Journal of Multinational Financial Management, Elsevier, vol. 22(5), pages 193-211.
  2. Lulu Gu & W. Robert Reed, 2012. "Information Asymmetry, Market Segmentation and Cross-Listing: Implicatons for Event Study Methodology," Working Papers in Economics 12/08, University of Canterbury, Department of Economics and Finance.
  3. Mejda Bahlous, 2013. "Does Cross-Listing Benefit the Shareholders? Evidence from Companies in the GCC Countries?," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 20(4), pages 345-381, November.
  4. Juliet D’Souza & William L. Megginson & Robert Nash, 2013. "An empirical analysis of cross-listing decisions in share-issue privatizations: evidence from developed and developing countries," Chapters, in: Handbook of Research on IPOs, chapter 23, pages 531-551 Edward Elgar Publishing.
  5. Roosenboom, Peter & van Dijk, Mathijs A., 2009. "The market reaction to cross-listings: Does the destination market matter?," Journal of Banking & Finance, Elsevier, vol. 33(10), pages 1898-1908, October.
  6. Alhaj-Yaseen, Yaseen S. & Lam, Eddery & Barkoulas, John T., 2014. "Price discovery for cross-listed firms with foreign IPOs," International Review of Financial Analysis, Elsevier, vol. 31(C), pages 80-87.
  7. Thierry Foucault & Laurent Fresard, 2011. "Cross listing investment sensitivity to stock price and the learning hypothetis," Post-Print hal-00577859, HAL.
  8. Fan-Hua Kung, 2011. "Overseas listing and accounting conservatism: evidence from Chinese H-share companies," Asian Review of Accounting, Emerald Group Publishing, vol. 19(3), pages 266-278, November.
  9. Anders Johansson, 2010. "China's financial market integration with the world," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 8(3), pages 293-314.
  10. Andres, Christian & Theissen, Erik, 2008. "Setting a fox to keep the geese -- Does the comply-or-explain principle work?," Journal of Corporate Finance, Elsevier, vol. 14(3), pages 289-301, June.
  11. Bekaert, Geert & Harvey, Campbell & Lundblad, Christian T, 2006. "Liquidity and Expected Returns: Lessons from Emerging Markets," CEPR Discussion Papers 5946, C.E.P.R. Discussion Papers.
  12. Koulakiotis, Athanasios & Dasilas, Apostolos & Papasyriopoulos, Nicholas, 2009. "Volatility and error transmission spillover effects: Evidence from three European financial regions," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 858-869, August.
  13. Arturo Bris & Salvatore Cantale & George Nishiotis, 2006. "A Breakdown of the Valuation Effects of International Cross-Listing," Yale School of Management Working Papers amz2602, Yale School of Management, revised 01 Aug 2006.
  14. Sabrina Buti & Barbara Rindi & Ingrid M. Werner, 2014. "Dark Pool Trading Strategies, Market Quality and Welfare," Working Papers 530, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  15. Massa, Massimo & Žaldokas, Alminas, 2014. "Investor base and corporate borrowing: Evidence from international bonds," Journal of International Economics, Elsevier, vol. 92(1), pages 95-110.
  16. Iwata, Shigeru & Wu, Shu, 2009. "Stock market liberalization and international risk sharing," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 19(3), pages 461-476, July.
  17. Didier Brandao,Tatiana & Levine,Ross Eric & Schmukler,Sergio L., 2015. "Capital market financing, firm growth, and firm size distribution," Policy Research Working Paper Series 7353, The World Bank.
  18. You, Leyuan & Parhizgari, Ali M. & Srivastava, Suresh, 2012. "Cross-listing and subsequent delisting in foreign markets," Journal of Empirical Finance, Elsevier, vol. 19(2), pages 200-216.
  19. Cécile Carpentier & Jean-François L'Her & Jean-Marc Suret, 2004. "Competition Among Securities Markets: Can the Canadian Market Survive?," CIRANO Working Papers 2004s-50, CIRANO.
  20. Liu, Shinhua, 2007. "International cross-listing and stock pricing efficiency: An empirical study," Emerging Markets Review, Elsevier, vol. 8(4), pages 251-263, December.
  21. Yaseen Alhaj-Yaseen, 2013. "Cross-listing in the home market after going public in the U.S," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 37(2), pages 274-292, April.
  22. Bakke, Tor-Erik & Jens, Candace E. & Whited, Toni M., 2012. "The real effects of delisting: Evidence from a regression discontinuity design," Finance Research Letters, Elsevier, vol. 9(4), pages 183-193.
  23. Cosset, Jean-Claude & Meknassi, Siham, 2013. "Does cross-listing in the US foster mergers and acquisitions and increase target shareholder wealth?," Journal of Multinational Financial Management, Elsevier, vol. 23(1), pages 54-73.
  24. Tatiana Didier & Ross Levine & Sergio L. Schmukler, 2014. "Capital Market Financing, Firm Growth, Firm Size Distribution," NBER Working Papers 20336, National Bureau of Economic Research, Inc.
  25. Hail, Luzi & Leuz, Christian, 2009. "Cost of capital effects and changes in growth expectations around U.S. cross-listings," Journal of Financial Economics, Elsevier, vol. 93(3), pages 428-454, September.
  26. Karolyi, G. Andrew, 2012. "Corporate governance, agency problems and international cross-listings: A defense of the bonding hypothesis," Emerging Markets Review, Elsevier, vol. 13(4), pages 516-547.
  27. Xi Li & Amir N. Licht & Christopher Poliquin & Jordan I. Siegel, 2015. "What Makes the Bonding Stick? A Natural Experiment Involving the U.S. Supreme Court and Cross-Listed Firms," HKUST IEMS Working Paper Series 2015-19, HKUST Institute for Emerging Market Studies, revised Mar 2015.
  28. Shinhua Liu & Zhen Zhu, 2009. "Transaction Costs and Price Volatility: New Evidence from the Tokyo Stock Exchange," Journal of Financial Services Research, Springer;Western Finance Association, vol. 36(1), pages 65-83, August.
  29. Ayyagari, Meghana & Doidge, Craig, 2010. "Does cross-listing facilitate changes in corporate ownership and control?," Journal of Banking & Finance, Elsevier, vol. 34(1), pages 208-223, January.
  30. Kot, Hung Wan & Tam, Lewis H.K., 2016. "Are stock price more informative after dual-listing in emerging markets? Evidence from Hong Kong-listed Chinese companies," Pacific-Basin Finance Journal, Elsevier, vol. 36(C), pages 31-45.
  31. Esqueda, Omar A., 2016. "Signaling, corporate governance, and the equilibrium dividend policy," The Quarterly Review of Economics and Finance, Elsevier, vol. 59(C), pages 186-199.
  32. Visaltanachoti, Nuttawat & Yang, Ting, 2010. "Speed of convergence to market efficiency for NYSE-listed foreign stocks," Journal of Banking & Finance, Elsevier, vol. 34(3), pages 594-605, March.
  33. Kusnadi, Yuanto, 2015. "Cross-listings and corporate cash savings: International evidence," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 91-107.
  34. Lindorfer, Robert & d'Arcy, Anne & Puck, Jonas, 2016. "Location Decisions and the Liability of Foreignness: Spillover Effects Between Factor Market and Capital Market Strategies," Journal of International Management, Elsevier, vol. 22(3), pages 222-233.
  35. repec:wyi:journl:002166 is not listed on IDEAS
  36. Doidge, Craig & Andrew Karolyi, G. & Stulz, Ren M., 2009. "Has New York become less competitive than London in global markets? Evaluating foreign listing choices over time," Journal of Financial Economics, Elsevier, vol. 91(3), pages 253-277, March.
  37. Karen Lewis & Fabio Ghironi, 2014. "Equity Sales and Manager Efficiency Across Firms and the Business Cycle," 2014 Meeting Papers 1079, Society for Economic Dynamics.
  38. Doidge, Craig & Karolyi, G. Andrew & Lins, Karl V. & Miller, Darius & Stulz, Rene M., 2005. "Private Benefits of Control, Ownership, and the Cross-Listing Decision," Working Papers 05-1, University of Pennsylvania, Wharton School, Weiss Center.
  39. Cécile Carpentier & Jean-François L'Her & Jean-Marc Suret, 2007. "Competition and Survival of Stock Exchanges: Lessons From Canada," CIRANO Working Papers 2007s-26, CIRANO.
  40. Hales, Alma D. & Mollick, André V., 2014. "The impact of ADR activity on stock market liquidity: Evidence from Latin America," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(3), pages 417-427.
  41. Manuela Geranio, 2012. "Cross-listing and the Evolution of Global Stock Market Liquidity," Chapters, in: Handbook of Research on Stock Market Globalization, chapter 9 Edward Elgar Publishing.
  42. Busaba, Walid Y. & Guo, Lin & Sun, Zhenzhen & Yu, Tong, 2015. "The dark side of cross-listing: A new perspective from China," Journal of Banking & Finance, Elsevier, vol. 57(C), pages 1-16.
  43. Bessler, Wolfgang & Kaen, Fred R. & Kurmann, Philipp & Zimmermann, Jan, 2012. "The listing and delisting of German firms on NYSE and NASDAQ: Were there any benefits?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(4), pages 1024-1053.
  44. Gilberto Loureiro & Alvaro G. Taboada, 2013. "Equity Offerings Abroad and the adoption of IFRS: A test of the Capital Markets Liability of Foreignness," NIPE Working Papers 21/2013, NIPE - Universidade do Minho.
  45. You, Leyuan & Lucey, Brian M. & Shu, Yan, 2013. "An empirical study of multiple direct international listings," Global Finance Journal, Elsevier, vol. 24(1), pages 69-84.
  46. Beuselinck, C.A.C. & Joos, P.P.M. & Khurana, I.K. & van der Meulen, S., 2010. "Mandatory IFRS Reporting and Stock Price Informativeness," Discussion Paper 2010-82, Tilburg University, Center for Economic Research.
  47. Berkman, Henk & Nguyen, Nhut H., 2010. "Domestic liquidity and cross-listing in the United States," Journal of Banking & Finance, Elsevier, vol. 34(6), pages 1139-1151, June.
  48. Abdallah, Abed Al-Nasser & Ioannidis, Christos, 2010. "Why do firms cross-list? International evidence from the US market," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(2), pages 202-213, May.
  49. Nicola Cetorelli & Stavros Peristiani, 2015. "Firm Value and Cross Listings: The Impact of Stock Market Prestige," Journal of Risk and Financial Management, MDPI, Open Access Journal, vol. 8(1), pages 150, March.
  50. Peng, Mike W. & Su, Weichieh, 2014. "Cross-listing and the scope of the firm," Journal of World Business, Elsevier, vol. 49(1), pages 42-50.
  51. Foucault, Thierry & Gehrig, Thomas, 2006. "Stock Price Informativeness, Cross-Listings and Investment Decisions," CEPR Discussion Papers 5722, C.E.P.R. Discussion Papers.
  52. Meisami, Alex & Misra, Lalatendu & Mehran, Jamshid & Shi, Yilun, 2014. "Foreign capital raising by Indian firms: An examination of domestic stock price response," Global Finance Journal, Elsevier, vol. 25(3), pages 181-202.
  53. Banerjee, Suman & Masulis, Ronald & Pal, Sarmistha, 2016. "Regulation and Firm Value: Curious Case of Transparency and Disclosure Laws in Russia," IZA Discussion Papers 9890, Institute for the Study of Labor (IZA).
  54. Moulton, Pamela C. & Wei, Li, 2009. "A tale of two time zones: The impact of substitutes on cross-listed stock liquidity," Journal of Financial Markets, Elsevier, vol. 12(4), pages 570-591, November.
  55. Cetorelli, Nicola & Peristiani, Stavros, 2013. "Prestigious stock exchanges: A network analysis of international financial centers," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1543-1551.
  56. Siegel, Jordan I. & Licht, Amir N. & Schwartz, Shalom H., 2011. "Egalitarianism and international investment," Journal of Financial Economics, Elsevier, vol. 102(3), pages 621-642.
  57. Hursti, Jani & Maula, Markku V.J., 2007. "Acquiring financial resources from foreign equity capital markets: An examination of factors influencing foreign initial public offerings," Journal of Business Venturing, Elsevier, vol. 22(6), pages 833-851, November.
  58. Phylaktis, Kate & Xia, Lichuan, 2006. "Sources of firms' industry and country effects in emerging markets," Journal of International Money and Finance, Elsevier, vol. 25(3), pages 459-475, April.
  59. Pan, Lee-Hsien & Lin, Chien-Ting & Yang, Pei-Chi, 2013. "Corporate governance, growth opportunities, and the choices of cross-listings: The case of Chinese ADRs," Pacific-Basin Finance Journal, Elsevier, vol. 24(C), pages 221-234.
  60. Nielsson, Ulf, 2013. "Do less regulated markets attract lower quality firms? Evidence from the London AIM market," Journal of Financial Intermediation, Elsevier, vol. 22(3), pages 335-352.
  61. Fernandes, Nuno & Lel, Ugur & Miller, Darius P., 2010. "Escape from New York: The market impact of loosening disclosure requirements," Journal of Financial Economics, Elsevier, vol. 95(2), pages 129-147, February.
  62. Fernandes, Nuno & Giannetti, Mariassunta, 2009. "On the Fortunes of Stock Exchanges and Their Reversals: Evidence from Foreign Listings," CEPR Discussion Papers 7308, C.E.P.R. Discussion Papers.
  63. Kim, Yongtae & Li, Haidan & Li, Siqi, 2012. "Does eliminating the Form 20-F reconciliation from IFRS to U.S. GAAP have capital market consequences?," Journal of Accounting and Economics, Elsevier, vol. 53(1), pages 249-270.
  64. Athanasios Koulakiotis, 2010. "The impact of cross-listings on the UK and the German stock markets," Studies in Economics and Finance, Emerald Group Publishing, vol. 27(1), pages 4-18, May.
  65. Massa, Massimo & Schmidt, Daniel, 2015. "Insider Trading in the Bond Market: Evidence from Loan Sale Events," CEPR Discussion Papers 10446, C.E.P.R. Discussion Papers.
  66. Bancel, Franck & Kalimipalli, Madhu & Mittoo, Usha R., 2009. "Cross-listing and the long-term performance of ADRs: Revisiting European evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 19(5), pages 895-923, December.
  67. Xu, Hongmei, 2015. "Corporate governance, state ownership and cross-listing: Evidence from Chinese A-share listed firms," Discussion Papers of the Institute for Organisational Economics 2/2015, University of Münster, Institute for Organisational Economics.
  68. Karen K. Lewis, 2015. "Do Foreign Firm Betas Change During Cross-listing?," NBER Working Papers 21054, National Bureau of Economic Research, Inc.
  69. Chua, Choong Tze & Lai, Sandy & Lewis, Karen K., 2010. "Are the Gains from Foreign Diversification Diminishing? Assessing the Impact with Cross-Listed Stocks," Working Papers 10-1, University of Pennsylvania, Wharton School, Weiss Center.
  70. Frésard, Laurent & Salva, Carolina, 2010. "The value of excess cash and corporate governance: Evidence from US cross-listings," Journal of Financial Economics, Elsevier, vol. 98(2), pages 359-384, November.
  71. Burns, Natasha & Francis, Bill B. & Hasan, Iftekhar, 2007. "Cross-listing and legal bonding: Evidence from mergers and acquisitions," Journal of Banking & Finance, Elsevier, vol. 31(4), pages 1003-1031, April.
  72. Sabrina Buti & Barbara Rindi & Ingrid M. Werner, 2011. "Dark Pool Trading Strategies," Working Papers 421, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  73. Menkveld, Albert J., 2008. "Splitting orders in overlapping markets: A study of cross-listed stocks," Journal of Financial Intermediation, Elsevier, vol. 17(2), pages 145-174, April.
  74. Tay, Nicholas S.P. & Oladi, Reza, 2011. "Listings from the emerging economies: An opportunity for reputable stock exchanges," International Review of Economics & Finance, Elsevier, vol. 20(3), pages 388-394, June.
  75. Korczak, Piotr & Bohl, Martin T., 2005. "Empirical evidence on cross-listed stocks of Central and Eastern European companies," Emerging Markets Review, Elsevier, vol. 6(2), pages 121-137, June.
  76. Lulu Gu & W. Robert Reed, 2011. "One For All or All For One? Using Multiple-listing Information in Event Studies," Working Papers in Economics 11/33, University of Canterbury, Department of Economics and Finance.
  77. de Carvalho, Antonio Gledson & Pennacchi, George G., 2012. "Can a stock exchange improve corporate behavior? Evidence from firms' migration to premium listings in Brazil," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 883-903.
  78. Ugur Lel & Darius P. Miller, 2006. "International cross-listing, firm performance and top management turnover: a test of the bonding hypothesis," International Finance Discussion Papers 877, Board of Governors of the Federal Reserve System (U.S.).
  79. Dewenter, Kathryn L. & Kim, Chang-Soo & Novaes, Walter, 2010. "Anatomy of a regulatory race to the top: Changes in delisting rules at Korea's two stock exchanges, 1999-2002," Journal of Corporate Finance, Elsevier, vol. 16(4), pages 456-468, September.
  80. Karen K. Lewis, 2006. "Is the International Diversification Potential Diminishing? Foreign Equity Inside and Outside the US," NBER Working Papers 12697, National Bureau of Economic Research, Inc.
  81. Tina He & Wilson Li & Gordon Tang, 2012. "Dividends Behavior in State- Versus Family-Controlled Firms: Evidence from Hong Kong," Journal of Business Ethics, Springer, vol. 110(1), pages 97-112, September.
  82. Bris, Arturo & Cantale, Salvatore & Hrnjić, Emir & Nishiotis, George P., 2012. "The value of information in cross-listing," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 207-220.
  83. Lewis, Karen K., 2006. "Is the International Diversification Potential Diminishing? Foreign Equity Inside and Outside the US," Working Papers 06-6, University of Pennsylvania, Wharton School, Weiss Center.
  84. Gagnon, Louis & Karolyi, G. Andrew, 2004. "Multi-market Trading and Arbitrage," Working Paper Series 2004-9, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  85. Chen, Haiqiang & Choi, Paul Moon Sub, 2012. "Does information vault Niagara Falls? Cross-listed trading in New York and Toronto," Journal of Empirical Finance, Elsevier, vol. 19(2), pages 175-199.
  86. Katty Perez Aquino & Sunil Poshakwale, 2006. "Price determinants of American Depositary Receipts (ADR): a cross-sectional analysis of panel data," Applied Financial Economics, Taylor & Francis Journals, vol. 16(16), pages 1225-1237.
  87. Grammig, Joachim G. & Peter, Franziska J., 2008. "International price discovery in the presence of market microstructure effects," CFR Working Papers 08-10, University of Cologne, Centre for Financial Research (CFR).
  88. Congsheng Wu, 2012. "Country risk and valuation of US-listed foreign IPOs," Managerial Finance, Emerald Group Publishing, vol. 38(10), pages 939-957, October.
  89. Mishra, Anil V. & Ratti, Ronald A., 2011. "Governance, monitoring and foreign investment in Chinese companies," Emerging Markets Review, Elsevier, vol. 12(2), pages 171-188, June.
  90. Zhang, Cinder Xinde & King, Tao-Hsien Dolly, 2010. "The decision to list abroad: The case of ADRs and foreign IPOs by Chinese companies," Journal of Multinational Financial Management, Elsevier, vol. 20(1), pages 71-92, February.
  91. Cécile Carpentier & Jean-François L'Her & Jean-Marc Suret, 2009. "Long-run Performance Following Cross-Listing: A Re-examination," CIRANO Working Papers 2007s-25, CIRANO.
  92. Leuz, Christian & Triantis, Alexander & Yue Wang, Tracy, 2008. "Why do firms go dark? Causes and economic consequences of voluntary SEC deregistrations," Journal of Accounting and Economics, Elsevier, vol. 45(2-3), pages 181-208, August.
  93. Loureiro, Gilberto, 2010. "The reputation of underwriters: A test of the bonding hypothesis," Journal of Corporate Finance, Elsevier, vol. 16(4), pages 516-532, September.
  94. Chao-Lung Lien & Chien-An Wang, 2012. "The Bonding Hypothesis in Poor Governance Environments: Empirical Data from an International Firm Level," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 48(S3), pages 45-67, September.
  95. He, Hui & Yang, Jiawen, 2011. "Regime-switching analysis of ADR home market pass-through," Journal of Banking & Finance, Elsevier, vol. 35(1), pages 204-214, January.
  96. Kryzanowski, Lawrence & Lazrak, Skander, 2009. "Liquidity minimization and cross-listing choice: Evidence based on Canadian shares cross-listed on U.S. venues," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 19(3), pages 550-564, July.
  97. Halling, Michael & Pagano, Marco & Randl, Otto & Zechner, Josef, 2005. "Where is the Market? Evidence from Cross-Listings," CEPR Discussion Papers 4987, C.E.P.R. Discussion Papers.
  98. Korczak, Adriana & Korczak, Piotr, 2013. "The development of emerging stock markets and the demand for cross-listing," Journal of Empirical Finance, Elsevier, vol. 24(C), pages 63-77.
  99. Huang, Ying & Jacoby, Gady & Jiang, Christine X., 2016. "The bonding hypothesis and the home market liquidity of Chinese cross-listed stocks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 43(C), pages 146-157.
  100. Ben Sita, Bernard & Abdallah, Wissam, 2014. "Volatility links between the home and the host market for U.K. dual-listed stocks on U.S. markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 33(C), pages 183-199.
  101. Boubakri, Narjess & Cosset, Jean-Claude & Samet, Anis, 2010. "The choice of ADRs," Journal of Banking & Finance, Elsevier, vol. 34(9), pages 2077-2095, September.
  102. Smirnova, Elena, 2008. "Depositary receipts and firm value: Evidence from Central Europe and Russia," Emerging Markets Review, Elsevier, vol. 9(4), pages 266-279, December.
  103. Esqueda, Omar A. & Jackson, Dave O., 2015. "Cross-listing performance and insider ownership: The experience of U.S. investors," Journal of Multinational Financial Management, Elsevier, vol. 32, pages 77-94.
  104. Ben Slimane, FATEN, 2007. "L'Evolution des Marchés Boursiers Européens: Enjeux et limites
    [European Stock Market Evolution]
    ," MPRA Paper 2607, University Library of Munich, Germany.
  105. Jonathan Witmer, 2008. "An Examination of Canadian Firms Delisting from U.S. Exchanges," Staff Working Papers 08-11, Bank of Canada.
  106. Lei Chen, 2016. "Local Institutions, Audit Quality, and Corporate Scandals of US-Listed Foreign Firms," Journal of Business Ethics, Springer, vol. 133(2), pages 351-373, January.
  107. Pasquariello, Paolo, 2008. "The anatomy of financial crises: Evidence from the emerging ADR market," Journal of International Economics, Elsevier, vol. 76(2), pages 193-207, December.
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