Curtin University Homepage
  • Library
  • Help
    • Admin

    espace - Curtin’s institutional repository

    JavaScript is disabled for your browser. Some features of this site may not work without it.
    View Item 
    • espace Home
    • espace
    • Curtin Research Publications
    • View Item
    • espace Home
    • espace
    • Curtin Research Publications
    • View Item

    Does cross-listing signal quality

    Access Status
    Fulltext not available
    Authors
    Durand, Robert
    Gunawan, F.
    Tarca, A.
    Date
    2006
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Durand, R. and Gunawan, F. and Tarca, A. 2006. Does cross-listing signal quality. Journal of Contemporary Accounting and Economics. 2 (2): pp. 170-189.
    Source Title
    Journal of Contemporary Accounting and Economics
    ISSN
    1815-5669
    URI
    http://hdl.handle.net/20.500.11937/22032
    Collection
    • Curtin Research Publications
    Abstract

    The literature on cross-listing generally conveys the impression that cross-listing is good news about a firm. This paper focuses on returns following cross-listing where evidence of positive results from cross-listing is mixed. considering 81 Australian firms, we find that cross-listed firms are less profitable with higher debt levels prior to cross-listing and that they achieve significant negative abnormal returns in the three years following cross-listing. This result holds even for firms seeking the benefits of “bonding” to US disclosure requirements by cross-listing in the more regulated US markets. Our study suggests cross-listing is not an unambiguous positive signal about a firm.

    Related items

    Showing items related by title, author, creator and subject.

    • Does bonding really bond? Liability of foreignness and cross-listing of Chinese firms on international stock exchanges
      Liu, L.; Jiang, Fuming; Sathye, M. (2017)
      This study examines the relationship between cross-listing and firm valuation in the context of Chinese firms cross-listed on major international exchanges, such as the NASDAQ, New York Stock Exchange (NYSE), Hong Kong ...
    • Why do Chinese firms cross-list in the United States?
      Peng, Mike; Blevins, D. (2012)
      An interesting aspect to study the convergence of corporate governance is cross-listing. Cross-listing is when a company lists its shares on more than one stock exchange. In recent decades, there has been a drastic increase ...
    • Cross-listing and the scope of the firm
      Peng, Mike; Su, W. (2014)
      "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 ...
    Advanced search

    Browse

    Communities & CollectionsIssue DateAuthorTitleSubjectDocument TypeThis CollectionIssue DateAuthorTitleSubjectDocument Type

    My Account

    Admin

    Statistics

    Most Popular ItemsStatistics by CountryMost Popular Authors

    Follow Curtin

    • 
    • 
    • 
    • 
    • 

    CRICOS Provider Code: 00301JABN: 99 143 842 569TEQSA: PRV12158

    Copyright | Disclaimer | Privacy statement | Accessibility

    Curtin would like to pay respect to the Aboriginal and Torres Strait Islander members of our community by acknowledging the traditional owners of the land on which the Perth campus is located, the Whadjuk people of the Nyungar Nation; and on our Kalgoorlie campus, the Wongutha people of the North-Eastern Goldfields.