Accepted by Christian Leuz. We wish to thank two referees for helpful comments and suggestions. We also thank Cindy Alexander, Andriy Bodnaruk, Andrew Ellul, Paolo Fulghieri, Louis Gagnon, Jean Helwege, Andrew Karolyi, Michelle Lowry, Jens Martin, David McLean, Hamid Mehran, Anna Obizhaeva, Adam Pritchard, David Reeb, Ed Rice, Ailsa Röell, Michael Schill, participants at the 2013 Journal of Accounting Research Conference, 2010 European Finance Association Meeting, 2010 American Law and Economics Association Meeting, 2010 Northern Finance Association Meeting, NY Fed/RCFS Conference on Financial Stability and Financial Intermediary Firms’ Behavior, IIROC-DeGroote Annual Conference 2010, Central Bank of Brazil's Financial Crisis of 2008 Conference, University of Oregon Conference in honor of Larry Dann, and seminar participants at the Securities and Exchange Commission, HEC Montreal, HKUST, Netherlands Central Bank, Nanyang Technological University, National University of Singapore, Pennsylvania State University, Singapore Management University, Temple University, and University of Alberta for helpful comments and suggestions. Finally, we thank practitioners at Citibank, Bank of New York Mellon, the Pink Sheets, and the SEC for providing valuable institutional details of the unsponsored ADR market. An online Appendix to this paper can be downloaded at http://research.chicagobooth.edu/arc/journal-of-accounting-research/online-supplements.
Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-Listings
Article first published online: 23 JAN 2014
Copyright ©, University of Chicago on behalf of the Accounting Research Center, 2014
Journal of Accounting Research
Volume 52, Issue 2, pages 473–519, May 2014
How to Cite
ILIEV, P., MILLER, D. P. and ROTH, L. (2014), Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-Listings. Journal of Accounting Research, 52: 473–519. doi: 10.1111/1475-679X.12035
- Issue published online: 1 APR 2014
- Article first published online: 23 JAN 2014
- Accepted manuscript online: 8 NOV 2013 02:52AM EST
- Manuscript Accepted: 24 OCT 2013
- Manuscript Received: 29 APR 2011
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