Do foreign cross-listings increase firm value?

Do Treasure Islands Create Firm Value?∗

They do! Otherwise, their use would not have been so prevalent among firms. How much firm value they create, however, is still an open question. Exploiting a political event in the U.K. that suddenly raised the cost of using tax havens, we find that there was a 0.87% reduction in cumulative abnormal return (CAR) among the sampled firms, corresponding to about £532 million in market capitalizati...

Firm and Industry Factors Which Increase Vulnerability of Foreign Enterprise to Forced Divestment: a Cross-national Empirical Study

Firm performance Do the NZSE listing rules destroy value ? 1

The value of excess cash and corporate governance: Evidence from US cross-listings

We examine whether and how a US cross-listing mitigates the risk that insiders will turn their firm’s cash holdings into private benefits. We find strong evidence that the value investors attach to excess cash reserves is substantially larger for foreign firms listed on US exchanges and over-the-counter than for their domestic peers. Further, we show that this excess-cash premium stems not only...

How Do Value Creation and Competition Determine Whether a Firm Appropriates Value?