Finance Symposium 'Cross Listings'

The number of firms that have cross-listed at a foreign stock exchange has increased dramatically over the past decades. Cross-listings constitute a fruitful and interesting area of research for a number of reasons. First, cross-listings can be analyzed from a corporate finance perspective. Many studies examine why firms cross-list their shares overseas. A second and related research area is whether companies create value through a foreign equity listing. While the empirical evidence seems to indicate that cross-listings create shareholder value, the exact reasons for this have not been established. Finally, studying cross-listings can enhance our understanding of the functioning of international financial markets, and in particular the role of market microstructure. The three paper presentations during this symposium on cross-listings provide new empirical evidence on cross-listings from all three perspectives.

Information: Erik Kole; ekole@rsm.nl