Bonding to the Improved Disclosure Environment in the United States: Firms' Listing Choices and Their Capital Market Consequences

• Main Authors: Hope, Ole-Kristian, Kang, Tony, ZANG, Yoonseok
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2007
• Subjects: Corporate Finance; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/soa_research/189
• Institution: Singapore Management University

This paper examines whether the current reporting and disclosure requirements for foreign registrants in the United States affect foreign firms' decisions to list on a U.S. exchange. We find that while firms from a weak disclosure environment are more likely to cross-list and either trade over-...