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A strategic perspective of cross-listing by emerging market firms : evidence from Indonesia, Mexico, Poland and South Africa
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Temouri, Yama, Driffield, Nigel L. and Bhaumik, Sumon Kumar (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.
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Official URL: http://dx.doi.org/10.1016/j.intman.2016.04.003
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 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 benefits of cross-listing.
| Item Type: | Journal Article | ||||||||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HG Finance |
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| Divisions: | Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Stock exchanges , Corporations, Foreign, Real options (Finance), Corporations -- Investor relations , Corporate governance, Finance -- Developing countries | ||||||||||
| Journal or Publication Title: | Journal of International Management | ||||||||||
| Publisher: | Elsevier Inc. | ||||||||||
| ISSN: | 1075-4253 | ||||||||||
| Official Date: | September 2016 | ||||||||||
| Dates: |
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| Volume: | 22 | ||||||||||
| Number: | 3 | ||||||||||
| Page Range: | pp. 265-279 | ||||||||||
| Status: | Peer Reviewed | ||||||||||
| Publication Status: | Published | ||||||||||
| Access rights to Published version: | Open Access |
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