Discussion of ADRs, Analysts, and Accuracy: Does Cross-Listing in the United States Improve a Firm's Information Environment and Increase Market Value?
By Christian Leuz. 2003
122 citations recorded by the source corpus.
Subfields: Accounting, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/29dcd6ab80f386d0340571631981f5f4411cee34
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Citations in the corpus
- Stock market liberalization and the information environment (2006, unknown): “Even for the case of a country, Canada, with disclosure standards similar to those in the U.S., Leuz (2003) finds that Canadian firms that cross-list in the U.S. have greater analyst coverage than other firms.”
- Private Benefits and Cross-Listings in the United States (2004, unknown): “Legal environment Consistent with the analysis of La Porta et al. (1998), the most important factor explaining the level of private benefits is the legal environment in which a firm operates.”
- Can foreign firms bond themselves effectively by . . renting U.S. securities laws (2005, unknown): “Other authors call for further empirical study to directly test the legal bonding hypothesis (see, e.g., Cheung and Lee, 1995; Licht, 2000; Leuz, 2003).”
- The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2015, unknown): “…incentives, rather than reporting standards (or stated rules), as a fundamental determinant of observed disclosure and reporting practices across firms and countries (e.g., Ball et al., 2003; Leuz, 2003; Leuz et al., 2003; Ball and Shivakumar, 2005; Burgstahler et al., 2006, Hail et al., 2010a).”
- The Long-Term Effects of Cross-Listing, Investor Recognition, and Ownership Structure on Valuation (2006, background): “Bonding may occur either through the courts or through monitoring by reputational 7 While analyst coverage is an important proxy used in other studies, I/B/E/S data on analyst coverage of Canadian firms is limited to only a small sample (see Leuz, 2003).”
- Do Analysts Matter for Governance? Evidence from Natural Experiments (2015, unknown): “In fact, Leuz (2003) points out that the link between analysts and firm value is not clearly established in the literature and calls for more research.”
- Political Relationships, Global Financing and Corporate Transparency: Evidence from Indonesia (2006, unknown): “Recent papers show that Asian firms with foreign securities, higher-quality disclosures, and less problematic ownership structures exhibit significantly higher returns during the Asian financial crisis (Johnson et al., 2000; Mitton, 2002; Lemmon and Lins, 2003; Baek et al., 2004).”
- Auditor choice in privatized firms: Empirical evidence on the role of state and foreign owners (2009, unknown): “These results respond to Leuz’s (2003) call for evidence on the interplay between high-quality auditing and the cross-listing decision.”