Cross-listing and legal bonding: Evidence from mergers and acquisitions

Burns, Natasha; Francis, Bill B.; Hasan, Iftekhar

doi:10.1016/j.jbankfin.2006.10.001

Cited by 63 publications

(36 citation statements)

References 56 publications

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“…Chung (2006) argues that investor protection also affects the liquidity of ADRs. Licht (2003), Siegel (2005), and Burns et al (2007) challenge the legal bonding hypothesis for cross-listings in the US.…”

Section: Investor Protectionmentioning

confidence: 98%

The market reaction to cross-listings: Does the destination market matter?

Roosenboom

Dijk

2009

Journal of Banking & Finance

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Section: Investor Protectionmentioning

confidence: 98%

The market reaction to cross-listings: Does the destination market matter?

Roosenboom

Dijk

2009

Journal of Banking & Finance

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“…It is a vehicle through which a firm's management can 'bond' themselves to a legal system with more protections against management selfdealing or excessive consumption of private benefits of control, Burns and Bill (2006). Cross listing, helps improve on corporate governance.…”

Section: Why Firms Cross List Their Sharesmentioning

confidence: 99%

Impact of Cross-Border Listing on Stock Liquidity: Evidence from East African Community

Makau¹

2015

JFA

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Abstract:The purpose of this study was to examine the impact of cross listing on share liquidity for cross listed firms within East African Community, with the domestic market being the Nairobi Securities Exchange. A census was carried out for Kenyan listed firms that have cross-listed into other EAC exchanges in the last five years. Secondary data was collected from the NSE data base. Stock traded volume and turnover were used as proxy measures of stock liquidity. Their means were calculated pre-and post-cross-listing and tested for significance using a paired

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“…Specifically, cross-listing facilitates more mergers and acquisitions (M&As) in the host country (Burns, Francis, & Hasan, 2007;Kumar & Ramchand, 2008). M&As can be financed by cash or the acquirer's equity.…”

Section: Cross-listing and The Geographic Scope Of The Firmmentioning

confidence: 99%

Cross-listing and the scope of the firm

Peng¹,

Su²

2014

Journal of World Business

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Abstract"What determines the scope of the firm?" is one of the most fundamental questions in strategic management and international business. Yet no previous research has investigated the relationship between the scope of the firm and cross-listing-a firm listing its stock on overseas exchanges. We leverage the resource-based and institution-based views with a focus on cross-listed firms from emerging economies. We predict that cross-listing may result in a narrower product scope in the short run, a wider product scope in the long run, an expanded geographic scope overall, and a higher propensity to engage in mergers and acquisitions in the host country.

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Cross-listing and legal bonding: Evidence from mergers and acquisitions

Cited by 63 publications

References 56 publications

The market reaction to cross-listings: Does the destination market matter?

The market reaction to cross-listings: Does the destination market matter?

Impact of Cross-Border Listing on Stock Liquidity: Evidence from East African Community

Cross-listing and the scope of the firm

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