Document Type
Article
Article Version
Post-print
Publication Date
2002
Abstract
We examine the effect of 269 cross-border listings on rivals in the listing and domestic markets and find that U.S. rivals experience significant gains whereas domestic rivals do not. Both competitive and information effects are important in explaining the reaction of U.S. rivals. Regarding the competitive effects, the reaction of rivals is less favorable when listings originate in developed countries and more favorable when listing firms do not have prior operating presence in the United States. Regarding the information effects, the reaction is less favorable when listings are combined with equity offerings and more favorable when the listing is the first to occur within an industry.
Publication Title
Journal of Financial Research
Repository Citation
Bradford, Bruce M.; Martin, Anna D.; and Whyte, Ann Marie, "Competitive and Information Effects of Cross‐Border Stock Listings" (2002). Business Faculty Publications. 153.
https://digitalcommons.fairfield.edu/business-facultypubs/153
Published Citation
Whyte, Ann Marie, Bruce M. Bradford, and Anna D. Martin. "Competitive and Information Effects of Cross‐Border Stock Listings." Journal of Financial Research. 25(3): 399-413
DOI
10.1111/1475-6803.00026
Peer Reviewed
Comments
Copyright 2002 Wiley for Southern Finance Association
This is the accepted version of the following article: Whyte, Ann Marie, Bruce M. Bradford, and Anna D. Martin. "Competitive and Information Effects of Cross‐Border Stock Listings." Journal of Financial Research. 25(3): 399-413, which has been published in final form athttp://onlinelibrary.wiley.com/doi/10.1111/1475-6803.00026/abstract.