A strategic perspective of cross-listing by emerging market firms:evidence from Indonesia, Mexico, Poland and South Africa

Temouri, Yama, Driffield, Nigel and Kumar Bhaumik, Sumon (2016). A strategic perspective of cross-listing by emerging market firms:evidence from Indonesia, Mexico, Poland and South Africa. Journal of International Management, 22 (3), pp. 265-279.

Abstract

This paper develops an approach to the analysis of cross-listing that brings together the financial and non-financial benefits of the phenomenon. We employ the real options framework, which offers a detailed characterisation of the strategic issues associated with cross-listing, in the context of internationalisation of emerging market firms. The associated hypotheses are tested using firm-level data from four large emerging market economies with different profiles in terms of institutional quality and financial development. This allows us to extend the existing literature by isolating the relative importance of institutional quality and financial development for the benefits of cross-listing.

Publication DOI: https://doi.org/10.1016/j.intman.2016.04.003
Divisions: Aston Business School > Economics, Finance & Entrepreneurship
Additional Information: Creative Commons Attribution 4.0 International (CC BY 4.0)
Uncontrolled Keywords: corporate governance,cross-listing,emerging market economies,investor protection,real options,Business and International Management,Strategy and Management,Finance
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Related URLs: http://www.scop ... tnerID=8YFLogxK (Scopus URL)
https://www.sci ... 1533?via%3Dihub (Publisher URL)
Published Online Date: 2016-05-24
Published Date: 2016-09-01
Authors: Temouri, Yama
Driffield, Nigel
Kumar Bhaumik, Sumon

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License: Creative Commons Attribution


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