Has New York become less competitive than London in global markets ? Evaluating foreign listing choices over time $

@inproceedings{Doidge2009HasNY,
  title={Has New York become less competitive than London in global markets ? Evaluating foreign listing choices over time \$},
  author={Craig Doidge and G. Andrew Karolyi and Ren{\'e} M. Stulz},
  year={2009}
}
We study the determinants and consequences of cross-listings on the New York and London stock exchanges from 1990 to 2005. This investigation enables us to evaluate the relative benefits of New York and London exchange listings and to assess whether these relative benefits have changed over time, perhaps as a result of the passage of the Sarbanes-Oxley Act in 2002. We find that cross-listings have been falling on US exchanges as well as on the Main Market in London. This decline in cross… CONTINUE READING
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