| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP2709
|
| DP2709 Open Covenants, Privately Arrived At |
| John Fingleton; Michael Raith
|
| 发表日期 | 2001-02-27
|
| 出版年 | 2001
|
| 语种 | 英语
|
| 摘要 | This Paper documents the aggregate trends in the foreign listings of companies and analyses both their distinctive pre-listing characteristics and their post-listing performance relative to other companies. In the 1986-97 interval, many European companies listed abroad, but did so mainly on US exchanges. At the same time, the number of US companies listed in Europe decreased. The cross-listings of European companies appear to have sharply different motivations and consequences depending on whether they cross-list in the United States or within Europe. In the first case, companies pursue a strategy of rapid expansion and large equity issues after the listing. They rely increasingly on export markets and tend to belong to high-tech industries. In the second case, companies do not grow more than the control group, and increase their leverage after the cross-listing. The only features common to all cross-listing companies are their large size and their tendency to be recently privatized companies. |
| 主题 | Financial Economics
|
| 关键词 | Cross-listings
Going public
Initial public offerings
Geography
|
| URL | https://cepr.org/publications/dp2709
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531767
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推荐引用方式
GB/T 7714 |
John Fingleton,Michael Raith. DP2709 Open Covenants, Privately Arrived At. 2001.
|
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