What Makes Stock Exchanges Succeed? Evidence from Cross-Listing Decisions

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Household Stockholding in Europe: Where Do We Stand and Where Do We Go? (2003, unknown): “Source: Pagano et al., Table 4 (drawn from Elkins/McSherry Co., Inc.). Old age public pension spending as a percentage to GDP is drawn from Palacios and Pallarès-Miralles (2000). Data refer to 1995-97.”
Home Bias in International Equity Portfolios: A Review (2007, background): “Pagano et al. (2001) and Ahearne et al. (2004) underline the importance of the informational barriers resulting from different national accounting standards and practices.”
Financial Market Integration and Economic Growth in the EU (2004, background): “…a variety of reasons: overcoming equity rationing in the domestic market, reducing their cost of capital by accessing a more liquid market, signalling their quality by accepting the scrutiny of more informed investors or the rules of a better corporate governance system (Pagano et al., 2001, 2002).”
The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom (2006, unknown): “The early efforts do show considerable promise in that they are uncovering forces at work related to culture, geography and investor familiarity of which we researchers were previously unaware (Pagano et al., 2001; Pagano et al., 2002; Sarkissian and Schill, 2004).”