A strategic perspective of cross-listing by emerging market firms: evidence from Indonesia, Mexico, Poland and South Africa

Yama Temouri, Nigel Driffield, Sumon Kumar Bhaumik

Research output: Contribution to journalArticle

Abstract

This paper develops an approach to the analysis of cross-listing that brings together the financial and non-financial benefits of the phenomenon. We employ the real options framework, which offers a detailed characterisation of the strategic issues associated with cross-listing, in the context of internationalisation of emerging market firms. The associated hypotheses are tested using firm-level data from four large emerging market economies with different profiles in terms of institutional quality and financial development. This allows us to extend the existing literature by isolating the relative importance of institutional quality and financial development for the benefits of cross-listing.

Original languageEnglish
Pages (from-to)265-279
JournalJournal of International Management
Volume22
Issue number3
Early online date24 May 2016
DOIs
Publication statusPublished - 1 Sep 2016

Fingerprint

Cross-listing
Poland
Emerging market firms
South Africa
Indonesia
Mexico
Institutional quality
Financial development
Internationalization
Emerging market economies
Real options
Strategic issues
Firm-level data
Relative importance

Bibliographical note

Creative Commons Attribution 4.0 International (CC BY 4.0)

Keywords

  • corporate governance
  • cross-listing
  • emerging market economies
  • investor protection
  • real options

Cite this

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A strategic perspective of cross-listing by emerging market firms : evidence from Indonesia, Mexico, Poland and South Africa. / Temouri, Yama; Driffield, Nigel; Kumar Bhaumik, Sumon.

In: Journal of International Management, Vol. 22, No. 3, 01.09.2016, p. 265-279.

Research output: Contribution to journalArticle

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