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Cited by 1,120

The DOI matches its Crossref record; 57 of the 57 references it cites were found in a registry or an index.

ADRs, Analysts, and Accuracy: Does Cross Listing in the United States Improve a Firm's Information Environment and Increase Market Value?

Lang, Mark H., Lins, Karl V., Miller, Darius P.·2003·Journal of Accounting Research
DOI 10.1111/1475-679x.00106
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Abstract

This paper investigates the relation between cross listing in the United States and the information environment of non‐U.S. firms. We find that firms that cross list on U.S. exchanges have greater analyst coverage and increased forecast accuracy than firms that are not cross listed. A time‐series analysis shows that a change in analyst coverage and forecast accuracy occurs around cross listing. We also document that firms that have more analyst coverage and higher forecast accuracy have higher valuations. Furthermore, the change in firm value around cross listing is correlated with changes in analyst following and forecast accuracy, suggesting that cross listing enhances firm value through its effect on the firm's information environment. Our findings support the hypothesis that cross‐listed firms have better information environments, which are associated with higher market valuations.

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Metadata

Authors
Lang, M. H., Lins, K. V., & Miller, D. P.
Venue
Journal of Accounting Research
Publisher
Wiley
Published
2003-04-04
Volume
41
Issue
2
Pages
317-345
ISSN
  • 0021-8456 (ISSN-L)
  • 1475-679X
DOI
10.1111/1475-679x.00106
OpenAlex
W3121471642
Cited by
1,120
References
57
FWCI
142.98
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: ADRs, Analysts, and Accuracy: Does Cross Listing in the United States Improve a Firm's Information Environment and Increase Market Value? https://app.cochat.ai/papers/10.1111/1475-679x.00106
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Lang, M. H., Lins, K. V., & Miller, D. P. (2003). ADRs, Analysts, and Accuracy: Does Cross Listing in the United States Improve a Firm's Information Environment and Increase Market Value? Journal of Accounting Research. https://doi.org/10.1111/1475-679x.00106

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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.