Temouri, Y., Driffield, N. and Bhaumik, S.K. orcid.org/0000-0002-4459-3659 (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. ISSN 1075-4253
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 the 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 the benefits of cross-listing.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2016 Elsevier Ltd. This is an author produced version of a paper subsequently published in Journal of International Management. Uploaded in accordance with the publisher's self-archiving policy. Article available under the terms of the CC-BY-NC-ND licence (https://creativecommons.org/licenses/by-nc-nd/4.0/) |
Keywords: | Real options; Cross-listing; Investor protection; Corporate governance; Emerging market economies |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 04 May 2016 15:06 |
Last Modified: | 21 May 2018 00:38 |
Published Version: | http://dx.doi.org/10.1016/j.intman.2016.04.003 |
Status: | Published |
Publisher: | Elsevier |
Refereed: | Yes |
Identification Number: | 10.1016/j.intman.2016.04.003 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:99029 |