Articlegreen2007

Cross‐Listing, Bonding Hypothesis and Corporate Governance

Andreas Charitou · Christodoulos Louca · Stelios Panayides

72 citations0/0 files storedJournal of Business Finance &amp Accounting

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Corporate Finance and Governance Auditing, Earnings Management, Governance Corporate Governance and Financial Management

Abstract

Abstract: This paper examines the relationship between cross‐listing and corporate governance for Canadian firms, that were cross‐listed on US stock exchanges during the period 1997–2003. We find that cross‐listed firms have more independent boards and audit committees after the listing relative to a non‐cross‐listed matched sample of firms and relative to the pre‐listing period. Moreover, cross‐listed firms experience changes in their ownership structure after the listing. Finally, we provide evidence that the sensitivity of the relation between cross‐listed firm valuation with audit committee independence and ownership structure becomes more important after the listing. The results are robust after adjusting for various firm risk characteristics. Overall, the results are consistent with the literature on the bonding role of cross‐listings on US stock exchanges.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 72 citations exist upstream.

References

1978Specification Tests in Econometrics 1998Law and Finance 1997A Survey of Corporate Governance 1999Corporate Ownership Around the World 1997Legal Determinants of External Finance 1988Management ownership and market valuation 2000Investor protection and corporate governance 1996Higher market valuation of companies with a small board of directors

Cited by

2014Audit committees, corporate governance, and shareholder wealth: Evidence from Korea 2021Corporate Governance Reforms and Cross‐Listings : International Evidence*2011The Effect of the Mandatory Adoption of Corporate Governance Mechanisms on Executive Compensation 2018Value relevance of multinational directorship and cross-listing on MNEs national governance disclosure practices in Sub-Saharan Africa: Evidence from Nigeria 2020CSR disclosure of foreign versus U.S. firms: Evidence from ADRs 2019Female directorship on boards and corporate sustainability policies: Their effect on sustainable development

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.