Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
964189 | Journal of International Financial Markets, Institutions and Money | 2009 | 15 Pages |
Abstract
This paper examines whether a Canadian-listed firm seeking to cross-list in the U.S. needs to consider liquidity differences when making a choice among the main U.S. venues (AMEX, NYSE or NASDAQ). After controlling for firm characteristics, we find that trade costs for Canadian shares cross-listed in the U.S. do not depend on the U.S. cross-listing venue. This suggests that the choice of U.S. listing venue may be better motivated by the desire to minimize listing fees or to increase investor recognition and visibility.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Lawrence Kryzanowski, Skander Lazrak,