We study the impact of political institutions on foreign firms’ choice of their U.S. cross-listing venue. Using two measures of the quality of political institutions (the political rights index and the political constraint index) and controlling for various firm-level and country-level...

We investigate whether cross-listing in the US contributes to impound more earnings information into stock prices. Our results indicate that US exchange cross-listings are not associated with more future earnings news reflected in current prices, in accord with the view that such mechanism does...

We examine the role of cross-listing in alleviating domestic market constraints and facilitating mergers and acquisitions. Our results show that cross-listing allows shareholders of target firms to extract higher takeover premiums relative to their non-cross-listed peers. Moreover, shareholders...

We reexamine the announcement returns for a sample of 4215 U.S. frequent acquirers making 3299 domestic and 916 cross-border acquisitions of public, private and/or subsidiary targets between 1999 and 2010. We find that the market has a much stronger reaction to fifth or higher bids and that...