The Geography of Equity Listing; Why Do Companies List Abroad?

By Marco Pagano, A. Röell, Josef Zechner. 2002

794 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/c5618c6036661a2caeea268a3d767911c0487e53

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Citations in the corpus

Cross-country determinants of mergers and acquisitions (2004, neutral): “According to Rau and Vermaelen (1998), glamour firms (as measured by high market-to-book ratios) will tend to overestimate their ability to create synergies in the target and should therefore be willing to pay more than managers of value firms (as measured by low market-to-book ratios).”
U.S. Investors' Emerging Market Equity Portfolios: A Security-Level Analysis (2003, positive): “The ICAPM, based on traditional portfolio theory developed by Sharpe (1964) and Lintner (1965), predicts that mean-variance optimizing investors should hold the world market portfolio of risky assets.”
Cross-Listing, Investment Sensitivity to Stock Price, and the Learning Hypothesis (2012, positive): “For instance, Pagano, Roell, and Zechner (2002) find that industry characteristics are a primary driver of this choice while Sarkissian and Schill (2004) find that geographic, cultural, and economic proximity play a dominant role in the choice of overseas venue.”
The Effect of IAS/IFRS Adoption on Earnings Management (Smoothing): A Closer Look at Competing Explanations (2013, neutral): “The earnings variability metric is the variance of the residuals from the following regression of the change in net income on variables identified in prior research that explain earnings changes (Ashbaugh, 2001; Pagano et al., 2002; Lang et al., 2003, 2006; Tarca, 2004):”
Competition and cooperation among exchanges: A theory of cross-listing and endogenous listing standards☆ (2006, neutral): “(See Salomon Brothers (1994) or Fuerst (1996) for institutional details).”
National culture and capital structure decisions: Evidence from foreign joint ventures in China (2011, positive): “Pagano, Röell, and Zechner (2002) and Sarkissian and Schill (2004) present evidence showing that cross-listing firms seek prospective investors in culturally proximate markets to ensure the smooth flow of information between home and destination markets.”
The Development of Accounting Quality of IAS and IFRS Over Time: The Case of Germany (2009, neutral): “…unrelated to the financial reporting system, we regress ∆NI on a number of control variables identified in prior literature (Ashbaugh 2001; Pagano et al., 2002; Lang et al., 2003; Tarca 2004; Lang et al. 2006; Barth et al., 2006, 2008), and the variances of the residuals of the…”