Reverse Cross-Listings - The Coming Race to List in Emerging Markets and an Enhanced Understanding of Classical Bonding

Authors

Nicholas C. Howson, University of Michigan Law SchoolFollow
Vikramaditya Khanna, University of Michigan Law SchoolFollow

Document Type

Article

Publication Date

10-2014

Abstract

Studies have found that when a U.S. issuer lists abroad on a foreign exchange, its shares exhibit negative abnormal returns. This negative movement may be because the market expects that the foreign listing will facilitate undetectable insider trading on the foreign exchange or other conduct impermissible in the United States.

Recommended Citation

Howson, Nicholas C. "Reverse Cross-listings - The Coming Race to List in Emerging Markets and an Enhanced Understanding of Classical Bonding." V. S. Khanna, co-author. Cornell Int'l L. J. 47, no. 3 (2014): 607-29.