Shareholders’ Wealth Effects of International Cross-Listings
| aut.researcher | Dodd, Olga | |
| dc.contributor.author | Dodd, O | |
| dc.contributor.author | Louca, C | |
| dc.date.accessioned | 2011-07-22T00:16:56Z | |
| dc.date.available | 2011-07-22T00:16:56Z | |
| dc.date.copyright | 2011-02-11 | |
| dc.date.issued | 2011-02-11 | |
| dc.description.abstract | This study evaluates shareholders’ wealth effects of international cross-listings and the joint significance of different theories in explaining American, British, and European cross-listing benefits. Moreover, it evaluates the time variation in shareholders’ wealth effects of cross-listings with a particular focus on the impact of significant developments in capital markets, such as adoption of the Sarbanes-Oxley Act in the US and single currency euro in Europe. The findings confirm that the impact of a cross-listing on shareholders’ wealth depends on the destination market and the time when it takes place. Changes in listing environment not only alter the wealth effects of cross-listings but also affect the sources of value creation around cross-listings. Overall, the findings provide insights into the nature of the motivations and the benefits of cross-listings across different host markets and over time. | |
| dc.identifier.citation | New Zealand Finance Colloquium, Christchurch, NZ, 2011-02-10 - 2011-02-11 | |
| dc.identifier.uri | https://hdl.handle.net/10292/1497 | |
| dc.publisher | AUT University | |
| dc.relation.uri | http://www.nzfc.ac.nz/papers/updated/278.pdf | |
| dc.rights.accessrights | OpenAccess | |
| dc.subject | Cross-listing | |
| dc.subject | Shareholders’ wealth | |
| dc.subject | Euro | |
| dc.subject | AIM | |
| dc.subject | The Sarbanes-Oxley Act | |
| dc.title | Shareholders’ Wealth Effects of International Cross-Listings | |
| dc.type | Conference Contribution | |
| pubs.organisational-data | /AUT | |
| pubs.organisational-data | /AUT/Business & Law | |
| pubs.organisational-data | /AUT/Business & Law/Finance |