Non-U.S. firms can converge toward U.S. capital market and legal regulations by cross-listing in the U.S. or by being acquired by a U.S. bidder. We show companies that are smaller, have lower growth opportunities, are capital intensive, and benefit from bonding through compliance with U.S....

Using a sample of foreign firms listed in U.S. and delisting shares over the period 2000 and 2010, this paper studies the impact of Sarbanes-Oxley Act (SOX) on the cross-delisting behavior of foreign firms based on the firm characteristics, legal tradition, overall culture and degree of...