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| Author: | Doidge, C. |
| Title: | U.S. cross-listings and the private benefits of control: evidence from dual-class firms |
| Journal: | Journal of Financial Economics
2004 : JUN, VOL. 72:3, p. 519-553 |
| Index terms: | Finance International Stock exchanges Stock market listing |
| Freeterms: | Cross-listing Benefits of control |
| Language: | eng |
| Abstract: | This article tests the hypothesis that the private benefits of control decrease when non-U.S. companies cross-list their shares in the U.S. via American depository receipts. The evidence supports the bonding hypothesis: cross-listing in the U.S. improves the protection afforded to minority investors and decreases the private benefits of control. |
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