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dc.contributor.authorDodd, O
dc.contributor.authorFrijns, B
dc.date.accessioned2014-02-18T00:59:56Z
dc.date.accessioned2014-02-19T00:25:51Z
dc.date.available2014-02-18T00:59:56Z
dc.date.available2014-02-19T00:25:51Z
dc.date.copyright2013-12-11
dc.date.issued2014-02-18
dc.identifier.citationThe First International Conference on Finance and Banking held at Inna Grand Bali Beach Hotel, Sanur, Bali, Indonesia, 2013-12-11 to 2013-12-12
dc.identifier.urihttp://hdl.handle.net/10292/6839
dc.description.abstractThis paper examines the relationship between the choice of the destination market for cross-listing and the home bias of investors. We use two measures of home bias, the domestic bias (the degree of overinvestment in the home market), and the foreign bias (the degree of over-/under-investment in a foreign market). First, we find a strong relationship between the domestic bias of investors and cross-listing decisions of firms. In particular, the level of cross-listing activity of firms from a particular market is negatively related to the domestic bias of the home market investors, while the level of cross-listing activity of firms towards a particular market is negatively related to the domestic bias of the host market investors. Second, we find a strong relationship between the foreign bias and cross-listings. In particular, the level of cross-listing activity from one market to another is positively related to the foreign bias in investments allocation of the home market investors as well as of the host market investors. Overall, these results suggest that corporate managers, when making a cross-listing decision, may be prone to the same behavioral/familiarity bias as investors.
dc.publisherThe Indonesian Financial Management Association (IFMA)
dc.relation.replaceshttp://hdl.handle.net/10292/6820
dc.relation.replaces10292/6820
dc.relation.urihttp://www.ifma-online.org/programs/
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dc.subjectCross-listing
dc.subjectHome bias
dc.subjectDomestic bias
dc.subjectForeign bias
dc.subjectFamiliarity bias
dc.titleThe cross-listing decision and the home bias in international equity investments
dc.typeConference Contribution
dc.rights.accessrightsOpenAccess
aut.conference.typeOral Presentation - Paper Presentation
pubs.elements-id160823


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