Cross-listings and Corporate Cash Savings: International Evidence

• Main Author: Yuanto KUSNADI
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2015
• Subjects: Cross-listings; Cash savings; International study; Accounting; Corporate Finance
• Online Access: https://ink.library.smu.edu.sg/soa_research/1496
• Institution: Singapore Management University

This paper examines foreign firms that are cross-listed on the U.S. stock exchanges and finds that they exhibit higher cash savings sensitivity to stock price than their non-cross-listed counterparts. This finding is robust even after controlling for alternative regression specifications and samples...