Does cross-listing signal quality
| dc.contributor.author | Durand, Robert | |
| dc.contributor.author | Gunawan, F. | |
| dc.contributor.author | Tarca, A. | |
| dc.date.accessioned | 2017-01-30T12:28:53Z | |
| dc.date.available | 2017-01-30T12:28:53Z | |
| dc.date.created | 2015-09-29T02:03:55Z | |
| dc.date.issued | 2006 | |
| dc.identifier.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. | |
| dc.identifier.uri | http://hdl.handle.net/20.500.11937/22032 | |
| dc.description.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. | |
| dc.publisher | Elsevier Ltd | |
| dc.subject | cross-listing | |
| dc.subject | long-run abnormal returns | |
| dc.title | Does cross-listing signal quality | |
| dc.type | Journal Article | |
| dcterms.source.volume | 2 | |
| dcterms.source.number | 2 | |
| dcterms.source.startPage | 170 | |
| dcterms.source.endPage | 189 | |
| dcterms.source.issn | 1815-5669 | |
| dcterms.source.title | Journal of Contemporary Accounting and Economics | |
| curtin.accessStatus | Fulltext not available |