The DOI matches its Crossref record; 92 of the 92 references it cites were found in a registry or an index.
The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom
Abstract
There has long prevailed a conventional wisdom rationalizing why firms pursue overseas listings. It argues that firms seek such opportunities to benefit from a lower cost of capital that arises because their shares become more accessible to global investors. Much recent evidence challenges this conventional wisdom. In fact, several new research initiatives have been proposed that factor into the overseas listing decision many more complex risks that globalization can create at the firm level, such as agency conflicts, transparency and disclosure concerns, and other corporate governance problems. The goal of this article is to survey, synthesize and critically review this new literature and to identify yet unresolved questions to answer.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
Continuous Auctions and Insider Trading
Kyle, A. S. (1985) · Econometrica · doi:10.2307/1913210 · Cited by 9,580
A Simple Model of Capital Market Equilibrium with Incomplete Information
MERTON, R. C. (1987) · The Journal of Finance · doi:10.1111/j.1540-6261.1987.tb04565.x · Cited by 5,811
Financing Constraints and Corporate Investment
Fazzari, S. M., Hubbard, R. G., Petersen, B. C., Blinder, A. S., & Poterba, J. M. (1988) · Brookings Papers on Economic Activity · doi:10.2307/2534426 · Cited by 5,574
Financing Constraints and Corporate Investment
Fazzari, S., Hubbard, R. G., & Petersen, B. (1987) · National Bureau of Economic Research · doi:10.3386/w2387 · Cited by 4,351
LOUGHRAN, T., & RITTER, J. R. (1995) · The Journal of Finance · doi:10.1111/j.1540-6261.1995.tb05166.x · Cited by 3,480
The Long‐Run Performance of initial Public Offerings
RITTER, J. R. (1991) · The Journal of Finance · doi:10.1111/j.1540-6261.1991.tb03743.x · Cited by 3,300
A Theory of Intraday Patterns: Volume and Price Variability
Admati, A. R., & Pfleiderer, P. (1988) · Review of Financial Studies · doi:10.1093/rfs/1.1.3 · Cited by 3,119
Why are foreign firms listed in the U.S. worth more?
Doidge, C., Karolyi, G. A., & Stulz, R. M. (2004) · Journal of Financial Economics · doi:10.1016/s0304-405x(03)00183-1 · Cited by 1,627
Self-citationOne Security, Many Markets: Determining the Contributions to Price Discovery
HASBROUCK, J. (1995) · The Journal of Finance · doi:10.1111/j.1540-6261.1995.tb04054.x · Cited by 1,621
Cited by
Scrutiny, Norms, and Selective Disclosure: A Global Study of Greenwashing
Marquis, C., Toffel, M. W., & Zhou, Y. (2016) · Organization Science · doi:10.1287/orsc.2015.1039 · Cited by 1,680
Liquidity and Expected Returns: Lessons from Emerging Markets
Bekaert, G., Harvey, C. R., & Lundblad, C. (2007) · Review of Financial Studies · doi:10.1093/rfs/hhm030 · Cited by 1,078
The role of board gender and foreign ownership in the CSR performance of Chinese listed firms
McGuinness, P. B., Vieito, J. P., & Wang, M. (2017) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2016.11.001 · Cited by 939
Cost of capital effects and changes in growth expectations around U.S. cross-listings
Hail, L., & Leuz, C. (2009) · Journal of Financial Economics · doi:10.1016/j.jfineco.2008.09.006 · Cited by 578
Why do firms go dark? Causes and economic consequences of voluntary SEC deregistrations
Leuz, C., Triantis, A., & Yue Wang, T. (2008) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2008.01.001 · Cited by 466
Metadata
- Authors
- Karolyi, G. A.
- Venue
- Review of Finance
- Publisher
- Oxford University Press (OUP)
- Published
- 2006-01-01
- Volume
- 10
- Issue
- 1
- Pages
- 99-152
- ISSN
- 1382-6662 (ISSN-L)
- 1573-692X
- 1572-3097
- OpenAlex
- W3123342473
- Cited by
- 560
- References
- 92
- FWCI
- 141.46
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom. https://app.cochat.ai/papers/10.1007/s10679-006-6980-8
- The paper
- Karolyi, G. A. (2006). The World of Cross-Listings and Cross-Listings of the World: Challenging Conventional Wisdom. Review of Finance. https://doi.org/10.1007/s10679-006-6980-8
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
