Cross-listing in the home market after going public in the U.S

Yaseen Alhaj-Yaseen ()

Journal of Economics and Finance, 2013, vol. 37, issue 2, 274-292

Abstract: This study analyzes the impact of cross-listing on the abnormal returns of a unique sample of 34 Israeli stocks that went public in the U.S. and then cross-listed in their home market, Tel Aviv Stock Exchange (TASE). The behavior of abnormal returns around cross-listing date implies that cross-listing in TASE is an effective mechanism in reducing market segmentation between the U.S. and the Israeli capital markets. Risk assessment following cross-listing suggests a decline in the risk exposure, which further supports a higher degree of integration between the two markets due to cross-listing. Copyright Springer Science+Business Media, LLC 2013

Keywords: Cross-Listing; Going Public; Initial Public Offering; Segmentation; Event Studies; G14; G15; G20; G34 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:spr:jecfin:v:37:y:2013:i:2:p:274-292

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DOI: 10.1007/s12197-011-9183-x

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