Equity cross-listings in the U.S. and the price of debt View Full Text


Ontology type: schema:ScholarlyArticle      Open Access: True


Article Info

DATE

2018-06

AUTHORS

Ryan T. Ball, Luzi Hail, Florin P. Vasvari

ABSTRACT

Using a large panel from 46 countries over 20 years, we find that non-U.S. firms issue corporate bonds more frequently and at lower offering yields following an equity cross-listing on a U.S. exchange. Firms issue more bonds through public offerings instead of private placements and in foreign markets rather than at home, in both cases at significantly lower yields. Moreover, the debt-related benefits are concentrated among firms domiciled in countries with less private benefits of control, efficient debt enforcement, and developed bond markets, suggesting that equity cross-listings cannot completely offset the impact of weak home country institutions. The results support the notion that the monitoring, transparency, and visibility benefits brought about by equity cross-listings on U.S. exchanges are valuable to bond investors. More... »

PAGES

385-421

References to SciGraph publications

  • 2011-02. How legal environments affect the use of bond covenants in JOURNAL OF INTERNATIONAL BUSINESS STUDIES
  • 2015-12. Does mandatory IFRS adoption facilitate debt financing? in REVIEW OF ACCOUNTING STUDIES
  • Identifiers

    URI

    http://scigraph.springernature.com/pub.10.1007/s11142-017-9424-0

    DOI

    http://dx.doi.org/10.1007/s11142-017-9424-0

    DIMENSIONS

    https://app.dimensions.ai/details/publication/pub.1092166579


    Indexing Status Check whether this publication has been indexed by Scopus and Web Of Science using the SN Indexing Status Tool
    Incoming Citations Browse incoming citations for this publication using opencitations.net

    JSON-LD is the canonical representation for SciGraph data.

    TIP: You can open this SciGraph record using an external JSON-LD service: JSON-LD Playground Google SDTT

    [
      {
        "@context": "https://springernature.github.io/scigraph/jsonld/sgcontext.json", 
        "about": [
          {
            "id": "http://purl.org/au-research/vocabulary/anzsrc-for/2008/1402", 
            "inDefinedTermSet": "http://purl.org/au-research/vocabulary/anzsrc-for/2008/", 
            "name": "Applied Economics", 
            "type": "DefinedTerm"
          }, 
          {
            "id": "http://purl.org/au-research/vocabulary/anzsrc-for/2008/14", 
            "inDefinedTermSet": "http://purl.org/au-research/vocabulary/anzsrc-for/2008/", 
            "name": "Economics", 
            "type": "DefinedTerm"
          }
        ], 
        "author": [
          {
            "affiliation": {
              "alternateName": "University of Michigan\u2013Ann Arbor", 
              "id": "https://www.grid.ac/institutes/grid.214458.e", 
              "name": [
                "Ross School of Business, University of Michigan, Ann Arbor, MI, USA"
              ], 
              "type": "Organization"
            }, 
            "familyName": "Ball", 
            "givenName": "Ryan T.", 
            "id": "sg:person.014176465042.30", 
            "sameAs": [
              "https://app.dimensions.ai/discover/publication?and_facet_researcher=ur.014176465042.30"
            ], 
            "type": "Person"
          }, 
          {
            "affiliation": {
              "alternateName": "University of Pennsylvania", 
              "id": "https://www.grid.ac/institutes/grid.25879.31", 
              "name": [
                "The Wharton School, University of Pennsylvania, Philadelphia, PA, USA"
              ], 
              "type": "Organization"
            }, 
            "familyName": "Hail", 
            "givenName": "Luzi", 
            "id": "sg:person.012140342341.99", 
            "sameAs": [
              "https://app.dimensions.ai/discover/publication?and_facet_researcher=ur.012140342341.99"
            ], 
            "type": "Person"
          }, 
          {
            "affiliation": {
              "alternateName": "London Business School", 
              "id": "https://www.grid.ac/institutes/grid.14868.33", 
              "name": [
                "London Business School, London, UK"
              ], 
              "type": "Organization"
            }, 
            "familyName": "Vasvari", 
            "givenName": "Florin P.", 
            "id": "sg:person.015346232024.45", 
            "sameAs": [
              "https://app.dimensions.ai/discover/publication?and_facet_researcher=ur.015346232024.45"
            ], 
            "type": "Person"
          }
        ], 
        "citation": [
          {
            "id": "https://doi.org/10.1111/j.1540-6261.2007.01272.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1000432839"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/0304-3932(85)90051-0", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1001569708"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/0304-405x(77)90015-0", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1001904258"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jfineco.2009.10.004", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1002772037"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/1540-6261.00509", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1004990405"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jacceco.2008.04.005", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1006884071"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/fire.12005", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1007545622"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1017/s0022109011000597", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1008282211"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/0022-1082.00134", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1008983842"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jfineco.2004.02.001", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1009207640"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.2308/accr.2008.83.1.1", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1009758476"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1093/rfs/hhr097", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1010200381"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/0304-405x(81)90005-2", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1010530447"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.1996.tb05229.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1013573572"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.2007.01203.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1014006373"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.1987.tb04565.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1016287301"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/s0304-405x(02)00151-4", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1018836543"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1475-679x.2012.00464.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1019860720"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jfineco.2007.02.007", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1020291432"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1538-4616.2010.00312.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1022000343"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jbankfin.2013.10.001", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1023880136"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/s0304-405x(03)00183-1", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1024292592"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/s0304-405x(03)00183-1", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1024292592"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/1468-0416.00018", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1025720726"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jfineco.2008.09.006", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1025925571"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.2308/accr.2005.80.4.1125", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1027188084"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "sg:pub.10.1007/s11142-015-9325-z", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1029442413", 
              "https://doi.org/10.1007/s11142-015-9325-z"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1017/s0022109000001769", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1031023653"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/1475-679x.00106", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1032343158"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "sg:pub.10.1057/jibs.2010.52", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1032549048", 
              "https://doi.org/10.1057/jibs.2010.52"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.2007.01293.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1032672023"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.1997.tb02727.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1034529729"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jfineco.2010.11.004", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1034663581"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/s0929-1199(00)00007-9", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1035504587"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.2308/acch-50759", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1035517554"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1475-679x.2009.00336.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1036537186"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.1977.tb03275.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1038420134"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.1968.tb00843.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1038805997"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.1995.tb05184.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1040261580"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jfineco.2003.07.003", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1042235204"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.2010.01577.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1042694251"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jfineco.2008.02.010", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1043149779"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1745-6622.1999.tb00027.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1044339371"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/0304-405x(76)90026-x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1049999925"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1016/j.jfineco.2005.08.004", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1050255816"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1111/j.1540-6261.2004.00642.x", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1052332671"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1006/jfin.2002.0342", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1054489828"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1006/jfin.2002.0342", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1054489828"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1007/s10679-006-6980-8", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1054522636"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1007/s10679-006-6980-8", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1054522636"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1086/261775", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1058575256"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1093/rfs/13.1.155", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1060005293"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1093/rfs/hhn050", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1060006015"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1093/rof/rfm031", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1060013088"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.2307/2297430", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1069868852"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.2307/2326770", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1069890956"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.2307/2676256", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1070055024"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.1093/0198288816.001.0001", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1098725090"
            ], 
            "type": "CreativeWork"
          }, 
          {
            "id": "https://doi.org/10.2307/1123661", 
            "sameAs": [
              "https://app.dimensions.ai/details/publication/pub.1102640577"
            ], 
            "type": "CreativeWork"
          }
        ], 
        "datePublished": "2018-06", 
        "datePublishedReg": "2018-06-01", 
        "description": "Using a large panel from 46 countries over 20 years, we find that non-U.S. firms issue corporate bonds more frequently and at lower offering yields following an equity cross-listing on a U.S. exchange. Firms issue more bonds through public offerings instead of private placements and in foreign markets rather than at home, in both cases at significantly lower yields. Moreover, the debt-related benefits are concentrated among firms domiciled in countries with less private benefits of control, efficient debt enforcement, and developed bond markets, suggesting that equity cross-listings cannot completely offset the impact of weak home country institutions. The results support the notion that the monitoring, transparency, and visibility benefits brought about by equity cross-listings on U.S. exchanges are valuable to bond investors.", 
        "genre": "research_article", 
        "id": "sg:pub.10.1007/s11142-017-9424-0", 
        "inLanguage": [
          "en"
        ], 
        "isAccessibleForFree": true, 
        "isPartOf": [
          {
            "id": "sg:journal.1136096", 
            "issn": [
              "1380-6653", 
              "1573-7136"
            ], 
            "name": "Review of Accounting Studies", 
            "type": "Periodical"
          }, 
          {
            "issueNumber": "2", 
            "type": "PublicationIssue"
          }, 
          {
            "type": "PublicationVolume", 
            "volumeNumber": "23"
          }
        ], 
        "name": "Equity cross-listings in the U.S. and the price of debt", 
        "pagination": "385-421", 
        "productId": [
          {
            "name": "readcube_id", 
            "type": "PropertyValue", 
            "value": [
              "b78c79d87189d3ca99f6874632dbb9c53c4ecc8bdf24e1e3e1f3487f6b08154c"
            ]
          }, 
          {
            "name": "doi", 
            "type": "PropertyValue", 
            "value": [
              "10.1007/s11142-017-9424-0"
            ]
          }, 
          {
            "name": "dimensions_id", 
            "type": "PropertyValue", 
            "value": [
              "pub.1092166579"
            ]
          }
        ], 
        "sameAs": [
          "https://doi.org/10.1007/s11142-017-9424-0", 
          "https://app.dimensions.ai/details/publication/pub.1092166579"
        ], 
        "sdDataset": "articles", 
        "sdDatePublished": "2019-04-10T16:50", 
        "sdLicense": "https://scigraph.springernature.com/explorer/license/", 
        "sdPublisher": {
          "name": "Springer Nature - SN SciGraph project", 
          "type": "Organization"
        }, 
        "sdSource": "s3://com-uberresearch-data-dimensions-target-20181106-alternative/cleanup/v134/2549eaecd7973599484d7c17b260dba0a4ecb94b/merge/v9/a6c9fde33151104705d4d7ff012ea9563521a3ce/jats-lookup/v90/0000000001_0000000264/records_8669_00000559.jsonl", 
        "type": "ScholarlyArticle", 
        "url": "https://link.springer.com/10.1007%2Fs11142-017-9424-0"
      }
    ]
     

    Download the RDF metadata as:  json-ld nt turtle xml License info

    HOW TO GET THIS DATA PROGRAMMATICALLY:

    JSON-LD is a popular format for linked data which is fully compatible with JSON.

    curl -H 'Accept: application/ld+json' 'https://scigraph.springernature.com/pub.10.1007/s11142-017-9424-0'

    N-Triples is a line-based linked data format ideal for batch operations.

    curl -H 'Accept: application/n-triples' 'https://scigraph.springernature.com/pub.10.1007/s11142-017-9424-0'

    Turtle is a human-readable linked data format.

    curl -H 'Accept: text/turtle' 'https://scigraph.springernature.com/pub.10.1007/s11142-017-9424-0'

    RDF/XML is a standard XML format for linked data.

    curl -H 'Accept: application/rdf+xml' 'https://scigraph.springernature.com/pub.10.1007/s11142-017-9424-0'


     

    This table displays all metadata directly associated to this object as RDF triples.

    251 TRIPLES      21 PREDICATES      83 URIs      19 LITERALS      7 BLANK NODES

    Subject Predicate Object
    1 sg:pub.10.1007/s11142-017-9424-0 schema:about anzsrc-for:14
    2 anzsrc-for:1402
    3 schema:author N7c9dc8ede8df4f17bbf9b4210cf2b737
    4 schema:citation sg:pub.10.1007/s11142-015-9325-z
    5 sg:pub.10.1057/jibs.2010.52
    6 https://doi.org/10.1006/jfin.2002.0342
    7 https://doi.org/10.1007/s10679-006-6980-8
    8 https://doi.org/10.1016/0304-3932(85)90051-0
    9 https://doi.org/10.1016/0304-405x(76)90026-x
    10 https://doi.org/10.1016/0304-405x(77)90015-0
    11 https://doi.org/10.1016/0304-405x(81)90005-2
    12 https://doi.org/10.1016/j.jacceco.2008.04.005
    13 https://doi.org/10.1016/j.jbankfin.2013.10.001
    14 https://doi.org/10.1016/j.jfineco.2003.07.003
    15 https://doi.org/10.1016/j.jfineco.2004.02.001
    16 https://doi.org/10.1016/j.jfineco.2005.08.004
    17 https://doi.org/10.1016/j.jfineco.2007.02.007
    18 https://doi.org/10.1016/j.jfineco.2008.02.010
    19 https://doi.org/10.1016/j.jfineco.2008.09.006
    20 https://doi.org/10.1016/j.jfineco.2009.10.004
    21 https://doi.org/10.1016/j.jfineco.2010.11.004
    22 https://doi.org/10.1016/s0304-405x(02)00151-4
    23 https://doi.org/10.1016/s0304-405x(03)00183-1
    24 https://doi.org/10.1016/s0929-1199(00)00007-9
    25 https://doi.org/10.1017/s0022109000001769
    26 https://doi.org/10.1017/s0022109011000597
    27 https://doi.org/10.1086/261775
    28 https://doi.org/10.1093/0198288816.001.0001
    29 https://doi.org/10.1093/rfs/13.1.155
    30 https://doi.org/10.1093/rfs/hhn050
    31 https://doi.org/10.1093/rfs/hhr097
    32 https://doi.org/10.1093/rof/rfm031
    33 https://doi.org/10.1111/0022-1082.00134
    34 https://doi.org/10.1111/1468-0416.00018
    35 https://doi.org/10.1111/1475-679x.00106
    36 https://doi.org/10.1111/1540-6261.00509
    37 https://doi.org/10.1111/fire.12005
    38 https://doi.org/10.1111/j.1475-679x.2009.00336.x
    39 https://doi.org/10.1111/j.1475-679x.2012.00464.x
    40 https://doi.org/10.1111/j.1538-4616.2010.00312.x
    41 https://doi.org/10.1111/j.1540-6261.1968.tb00843.x
    42 https://doi.org/10.1111/j.1540-6261.1977.tb03275.x
    43 https://doi.org/10.1111/j.1540-6261.1987.tb04565.x
    44 https://doi.org/10.1111/j.1540-6261.1995.tb05184.x
    45 https://doi.org/10.1111/j.1540-6261.1996.tb05229.x
    46 https://doi.org/10.1111/j.1540-6261.1997.tb02727.x
    47 https://doi.org/10.1111/j.1540-6261.2004.00642.x
    48 https://doi.org/10.1111/j.1540-6261.2007.01203.x
    49 https://doi.org/10.1111/j.1540-6261.2007.01272.x
    50 https://doi.org/10.1111/j.1540-6261.2007.01293.x
    51 https://doi.org/10.1111/j.1540-6261.2010.01577.x
    52 https://doi.org/10.1111/j.1745-6622.1999.tb00027.x
    53 https://doi.org/10.2307/1123661
    54 https://doi.org/10.2307/2297430
    55 https://doi.org/10.2307/2326770
    56 https://doi.org/10.2307/2676256
    57 https://doi.org/10.2308/acch-50759
    58 https://doi.org/10.2308/accr.2005.80.4.1125
    59 https://doi.org/10.2308/accr.2008.83.1.1
    60 schema:datePublished 2018-06
    61 schema:datePublishedReg 2018-06-01
    62 schema:description Using a large panel from 46 countries over 20 years, we find that non-U.S. firms issue corporate bonds more frequently and at lower offering yields following an equity cross-listing on a U.S. exchange. Firms issue more bonds through public offerings instead of private placements and in foreign markets rather than at home, in both cases at significantly lower yields. Moreover, the debt-related benefits are concentrated among firms domiciled in countries with less private benefits of control, efficient debt enforcement, and developed bond markets, suggesting that equity cross-listings cannot completely offset the impact of weak home country institutions. The results support the notion that the monitoring, transparency, and visibility benefits brought about by equity cross-listings on U.S. exchanges are valuable to bond investors.
    63 schema:genre research_article
    64 schema:inLanguage en
    65 schema:isAccessibleForFree true
    66 schema:isPartOf N2201cf2fc4d44e2fb71e88251ed94ee7
    67 N96b57b79eafd4fc7a1860e75845da437
    68 sg:journal.1136096
    69 schema:name Equity cross-listings in the U.S. and the price of debt
    70 schema:pagination 385-421
    71 schema:productId N3dec49c7b8a747758ac0198bf5c8dc29
    72 N73cdb12b4ef340fba1b98a80932a4ed7
    73 Ne2dc33236bfb4bc1a619c1307c3e29a5
    74 schema:sameAs https://app.dimensions.ai/details/publication/pub.1092166579
    75 https://doi.org/10.1007/s11142-017-9424-0
    76 schema:sdDatePublished 2019-04-10T16:50
    77 schema:sdLicense https://scigraph.springernature.com/explorer/license/
    78 schema:sdPublisher N214d45e185844a6698c967789f6585b1
    79 schema:url https://link.springer.com/10.1007%2Fs11142-017-9424-0
    80 sgo:license sg:explorer/license/
    81 sgo:sdDataset articles
    82 rdf:type schema:ScholarlyArticle
    83 N106188ce356c4e0da18272ce6f798928 rdf:first sg:person.012140342341.99
    84 rdf:rest N7005ad1ea2824ff981ff10762345c248
    85 N214d45e185844a6698c967789f6585b1 schema:name Springer Nature - SN SciGraph project
    86 rdf:type schema:Organization
    87 N2201cf2fc4d44e2fb71e88251ed94ee7 schema:issueNumber 2
    88 rdf:type schema:PublicationIssue
    89 N3dec49c7b8a747758ac0198bf5c8dc29 schema:name doi
    90 schema:value 10.1007/s11142-017-9424-0
    91 rdf:type schema:PropertyValue
    92 N7005ad1ea2824ff981ff10762345c248 rdf:first sg:person.015346232024.45
    93 rdf:rest rdf:nil
    94 N73cdb12b4ef340fba1b98a80932a4ed7 schema:name readcube_id
    95 schema:value b78c79d87189d3ca99f6874632dbb9c53c4ecc8bdf24e1e3e1f3487f6b08154c
    96 rdf:type schema:PropertyValue
    97 N7c9dc8ede8df4f17bbf9b4210cf2b737 rdf:first sg:person.014176465042.30
    98 rdf:rest N106188ce356c4e0da18272ce6f798928
    99 N96b57b79eafd4fc7a1860e75845da437 schema:volumeNumber 23
    100 rdf:type schema:PublicationVolume
    101 Ne2dc33236bfb4bc1a619c1307c3e29a5 schema:name dimensions_id
    102 schema:value pub.1092166579
    103 rdf:type schema:PropertyValue
    104 anzsrc-for:14 schema:inDefinedTermSet anzsrc-for:
    105 schema:name Economics
    106 rdf:type schema:DefinedTerm
    107 anzsrc-for:1402 schema:inDefinedTermSet anzsrc-for:
    108 schema:name Applied Economics
    109 rdf:type schema:DefinedTerm
    110 sg:journal.1136096 schema:issn 1380-6653
    111 1573-7136
    112 schema:name Review of Accounting Studies
    113 rdf:type schema:Periodical
    114 sg:person.012140342341.99 schema:affiliation https://www.grid.ac/institutes/grid.25879.31
    115 schema:familyName Hail
    116 schema:givenName Luzi
    117 schema:sameAs https://app.dimensions.ai/discover/publication?and_facet_researcher=ur.012140342341.99
    118 rdf:type schema:Person
    119 sg:person.014176465042.30 schema:affiliation https://www.grid.ac/institutes/grid.214458.e
    120 schema:familyName Ball
    121 schema:givenName Ryan T.
    122 schema:sameAs https://app.dimensions.ai/discover/publication?and_facet_researcher=ur.014176465042.30
    123 rdf:type schema:Person
    124 sg:person.015346232024.45 schema:affiliation https://www.grid.ac/institutes/grid.14868.33
    125 schema:familyName Vasvari
    126 schema:givenName Florin P.
    127 schema:sameAs https://app.dimensions.ai/discover/publication?and_facet_researcher=ur.015346232024.45
    128 rdf:type schema:Person
    129 sg:pub.10.1007/s11142-015-9325-z schema:sameAs https://app.dimensions.ai/details/publication/pub.1029442413
    130 https://doi.org/10.1007/s11142-015-9325-z
    131 rdf:type schema:CreativeWork
    132 sg:pub.10.1057/jibs.2010.52 schema:sameAs https://app.dimensions.ai/details/publication/pub.1032549048
    133 https://doi.org/10.1057/jibs.2010.52
    134 rdf:type schema:CreativeWork
    135 https://doi.org/10.1006/jfin.2002.0342 schema:sameAs https://app.dimensions.ai/details/publication/pub.1054489828
    136 rdf:type schema:CreativeWork
    137 https://doi.org/10.1007/s10679-006-6980-8 schema:sameAs https://app.dimensions.ai/details/publication/pub.1054522636
    138 rdf:type schema:CreativeWork
    139 https://doi.org/10.1016/0304-3932(85)90051-0 schema:sameAs https://app.dimensions.ai/details/publication/pub.1001569708
    140 rdf:type schema:CreativeWork
    141 https://doi.org/10.1016/0304-405x(76)90026-x schema:sameAs https://app.dimensions.ai/details/publication/pub.1049999925
    142 rdf:type schema:CreativeWork
    143 https://doi.org/10.1016/0304-405x(77)90015-0 schema:sameAs https://app.dimensions.ai/details/publication/pub.1001904258
    144 rdf:type schema:CreativeWork
    145 https://doi.org/10.1016/0304-405x(81)90005-2 schema:sameAs https://app.dimensions.ai/details/publication/pub.1010530447
    146 rdf:type schema:CreativeWork
    147 https://doi.org/10.1016/j.jacceco.2008.04.005 schema:sameAs https://app.dimensions.ai/details/publication/pub.1006884071
    148 rdf:type schema:CreativeWork
    149 https://doi.org/10.1016/j.jbankfin.2013.10.001 schema:sameAs https://app.dimensions.ai/details/publication/pub.1023880136
    150 rdf:type schema:CreativeWork
    151 https://doi.org/10.1016/j.jfineco.2003.07.003 schema:sameAs https://app.dimensions.ai/details/publication/pub.1042235204
    152 rdf:type schema:CreativeWork
    153 https://doi.org/10.1016/j.jfineco.2004.02.001 schema:sameAs https://app.dimensions.ai/details/publication/pub.1009207640
    154 rdf:type schema:CreativeWork
    155 https://doi.org/10.1016/j.jfineco.2005.08.004 schema:sameAs https://app.dimensions.ai/details/publication/pub.1050255816
    156 rdf:type schema:CreativeWork
    157 https://doi.org/10.1016/j.jfineco.2007.02.007 schema:sameAs https://app.dimensions.ai/details/publication/pub.1020291432
    158 rdf:type schema:CreativeWork
    159 https://doi.org/10.1016/j.jfineco.2008.02.010 schema:sameAs https://app.dimensions.ai/details/publication/pub.1043149779
    160 rdf:type schema:CreativeWork
    161 https://doi.org/10.1016/j.jfineco.2008.09.006 schema:sameAs https://app.dimensions.ai/details/publication/pub.1025925571
    162 rdf:type schema:CreativeWork
    163 https://doi.org/10.1016/j.jfineco.2009.10.004 schema:sameAs https://app.dimensions.ai/details/publication/pub.1002772037
    164 rdf:type schema:CreativeWork
    165 https://doi.org/10.1016/j.jfineco.2010.11.004 schema:sameAs https://app.dimensions.ai/details/publication/pub.1034663581
    166 rdf:type schema:CreativeWork
    167 https://doi.org/10.1016/s0304-405x(02)00151-4 schema:sameAs https://app.dimensions.ai/details/publication/pub.1018836543
    168 rdf:type schema:CreativeWork
    169 https://doi.org/10.1016/s0304-405x(03)00183-1 schema:sameAs https://app.dimensions.ai/details/publication/pub.1024292592
    170 rdf:type schema:CreativeWork
    171 https://doi.org/10.1016/s0929-1199(00)00007-9 schema:sameAs https://app.dimensions.ai/details/publication/pub.1035504587
    172 rdf:type schema:CreativeWork
    173 https://doi.org/10.1017/s0022109000001769 schema:sameAs https://app.dimensions.ai/details/publication/pub.1031023653
    174 rdf:type schema:CreativeWork
    175 https://doi.org/10.1017/s0022109011000597 schema:sameAs https://app.dimensions.ai/details/publication/pub.1008282211
    176 rdf:type schema:CreativeWork
    177 https://doi.org/10.1086/261775 schema:sameAs https://app.dimensions.ai/details/publication/pub.1058575256
    178 rdf:type schema:CreativeWork
    179 https://doi.org/10.1093/0198288816.001.0001 schema:sameAs https://app.dimensions.ai/details/publication/pub.1098725090
    180 rdf:type schema:CreativeWork
    181 https://doi.org/10.1093/rfs/13.1.155 schema:sameAs https://app.dimensions.ai/details/publication/pub.1060005293
    182 rdf:type schema:CreativeWork
    183 https://doi.org/10.1093/rfs/hhn050 schema:sameAs https://app.dimensions.ai/details/publication/pub.1060006015
    184 rdf:type schema:CreativeWork
    185 https://doi.org/10.1093/rfs/hhr097 schema:sameAs https://app.dimensions.ai/details/publication/pub.1010200381
    186 rdf:type schema:CreativeWork
    187 https://doi.org/10.1093/rof/rfm031 schema:sameAs https://app.dimensions.ai/details/publication/pub.1060013088
    188 rdf:type schema:CreativeWork
    189 https://doi.org/10.1111/0022-1082.00134 schema:sameAs https://app.dimensions.ai/details/publication/pub.1008983842
    190 rdf:type schema:CreativeWork
    191 https://doi.org/10.1111/1468-0416.00018 schema:sameAs https://app.dimensions.ai/details/publication/pub.1025720726
    192 rdf:type schema:CreativeWork
    193 https://doi.org/10.1111/1475-679x.00106 schema:sameAs https://app.dimensions.ai/details/publication/pub.1032343158
    194 rdf:type schema:CreativeWork
    195 https://doi.org/10.1111/1540-6261.00509 schema:sameAs https://app.dimensions.ai/details/publication/pub.1004990405
    196 rdf:type schema:CreativeWork
    197 https://doi.org/10.1111/fire.12005 schema:sameAs https://app.dimensions.ai/details/publication/pub.1007545622
    198 rdf:type schema:CreativeWork
    199 https://doi.org/10.1111/j.1475-679x.2009.00336.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1036537186
    200 rdf:type schema:CreativeWork
    201 https://doi.org/10.1111/j.1475-679x.2012.00464.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1019860720
    202 rdf:type schema:CreativeWork
    203 https://doi.org/10.1111/j.1538-4616.2010.00312.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1022000343
    204 rdf:type schema:CreativeWork
    205 https://doi.org/10.1111/j.1540-6261.1968.tb00843.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1038805997
    206 rdf:type schema:CreativeWork
    207 https://doi.org/10.1111/j.1540-6261.1977.tb03275.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1038420134
    208 rdf:type schema:CreativeWork
    209 https://doi.org/10.1111/j.1540-6261.1987.tb04565.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1016287301
    210 rdf:type schema:CreativeWork
    211 https://doi.org/10.1111/j.1540-6261.1995.tb05184.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1040261580
    212 rdf:type schema:CreativeWork
    213 https://doi.org/10.1111/j.1540-6261.1996.tb05229.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1013573572
    214 rdf:type schema:CreativeWork
    215 https://doi.org/10.1111/j.1540-6261.1997.tb02727.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1034529729
    216 rdf:type schema:CreativeWork
    217 https://doi.org/10.1111/j.1540-6261.2004.00642.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1052332671
    218 rdf:type schema:CreativeWork
    219 https://doi.org/10.1111/j.1540-6261.2007.01203.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1014006373
    220 rdf:type schema:CreativeWork
    221 https://doi.org/10.1111/j.1540-6261.2007.01272.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1000432839
    222 rdf:type schema:CreativeWork
    223 https://doi.org/10.1111/j.1540-6261.2007.01293.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1032672023
    224 rdf:type schema:CreativeWork
    225 https://doi.org/10.1111/j.1540-6261.2010.01577.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1042694251
    226 rdf:type schema:CreativeWork
    227 https://doi.org/10.1111/j.1745-6622.1999.tb00027.x schema:sameAs https://app.dimensions.ai/details/publication/pub.1044339371
    228 rdf:type schema:CreativeWork
    229 https://doi.org/10.2307/1123661 schema:sameAs https://app.dimensions.ai/details/publication/pub.1102640577
    230 rdf:type schema:CreativeWork
    231 https://doi.org/10.2307/2297430 schema:sameAs https://app.dimensions.ai/details/publication/pub.1069868852
    232 rdf:type schema:CreativeWork
    233 https://doi.org/10.2307/2326770 schema:sameAs https://app.dimensions.ai/details/publication/pub.1069890956
    234 rdf:type schema:CreativeWork
    235 https://doi.org/10.2307/2676256 schema:sameAs https://app.dimensions.ai/details/publication/pub.1070055024
    236 rdf:type schema:CreativeWork
    237 https://doi.org/10.2308/acch-50759 schema:sameAs https://app.dimensions.ai/details/publication/pub.1035517554
    238 rdf:type schema:CreativeWork
    239 https://doi.org/10.2308/accr.2005.80.4.1125 schema:sameAs https://app.dimensions.ai/details/publication/pub.1027188084
    240 rdf:type schema:CreativeWork
    241 https://doi.org/10.2308/accr.2008.83.1.1 schema:sameAs https://app.dimensions.ai/details/publication/pub.1009758476
    242 rdf:type schema:CreativeWork
    243 https://www.grid.ac/institutes/grid.14868.33 schema:alternateName London Business School
    244 schema:name London Business School, London, UK
    245 rdf:type schema:Organization
    246 https://www.grid.ac/institutes/grid.214458.e schema:alternateName University of Michigan–Ann Arbor
    247 schema:name Ross School of Business, University of Michigan, Ann Arbor, MI, USA
    248 rdf:type schema:Organization
    249 https://www.grid.ac/institutes/grid.25879.31 schema:alternateName University of Pennsylvania
    250 schema:name The Wharton School, University of Pennsylvania, Philadelphia, PA, USA
    251 rdf:type schema:Organization
     




    Preview window. Press ESC to close (or click here)


    ...