Does corporate control determine the cross-listing location?

Wissam Abdallah and Marc Goergen

Journal of Corporate Finance, 2008, vol. 14, issue 3, 183-199

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.

Date: 2008
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Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:corfin:v:14:y:2008:i:3:p:183-199

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