Is it really a bonding, an avoidance, or a characteristics choice? An analysis of foreign listing on low versus high investor protection markets

Abdallah, Abed AL-Nasser and Abdallah, Wissam ORCID: https://orcid.org/0000-0001-6038-2387 2014. Is it really a bonding, an avoidance, or a characteristics choice? An analysis of foreign listing on low versus high investor protection markets. Journal of Corporate Ownership and Control 12 (1-9) , pp. 820-835. 10.22495/cocv12i1c9p6

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Abstract

We investigate the difference in the characteristics of firms that cross-list on high versus low investor protection markets. We find that civil law firms that cross-list on common law markets have higher growth rate, larger size and lower turnover pre cross-listing than their counterparts that cross-list on civil law markets. Also, we find that common law firms that cross-list on common law markets are larger and have a lower volume turnover than those that cross-list on civil law markets. Both groups experience a significant increase in their growth after cross-listing on common law markets. We also report that firms which have poor accounting standards, poor performance, are small in size, and from civil law countries are likely to cross-list on the US unregulated exchanges.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Publisher:	Virtus Interpress
ISSN:	1727-9232
Date of First Compliant Deposit:	27 February 2019
Last Modified:	10 May 2023 18:50
URI:	https://orca.cardiff.ac.uk/id/eprint/71110

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