Does corporate control determine the cross-listing location?

Abdallah, Wissam ORCID: https://orcid.org/0000-0001-6038-2387 and Goergen, Marc ORCID: https://orcid.org/0000-0003-4391-2651 2008. Does corporate control determine the cross-listing location? Journal of Corporate Finance 14 (3) , pp. 183-199. 10.1016/j.jcorpfin.2008.03.003

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Abstract

This paper explains the choice of the cross-listing location with particular emphasis on the level of investor protection provided by the host market. We find that firms with concentrated control, with a higher level of risk and those with more pronounced financing needs cross-list on a market with better investor protection. We also find support for the bonding hypothesis as firms from markets with weak shareholder protection tend to cross-list on markets with significantly higher shareholder protection.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Schools > Business (Including Economics)
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HG Finance
Uncontrolled Keywords:	Cross-listing; Corporate governance; Corporate control; Investor protection.
Publisher:	Elsevier
ISSN:	0929-1199
Last Modified:	19 Oct 2022 08:32
URI:	https://orca.cardiff.ac.uk/id/eprint/18105

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