Foreign Listing Location: A Study of MNCS and Stock Exchanges in Eight Countries

Saudagaran, Shahrokh M.; Biddle, Gary C.

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Foreign Listing Location: A Study of MNCS and Stock Exchanges in Eight Countries

Journal of International Business Studies, Vol. 26, No. 2, pp. 319-341, 1995

23 Pages Posted: 7 Oct 2010 Last revised: 9 Nov 2010

See all articles by Shahrokh M. Saudagaran

Shahrokh M. Saudagaran

University of Washington, Tacoma - Milgard School of Business

Gary C. Biddle

University of Melbourne - Faculty of Business and Economics; Columbia Business School; HKU Business School; London Business School

Date Written: March 5, 1995

Abstract

This study aims to enhance our understanding of multiple listings by addressing the where question related to foreign listings. It examines factors that influence firms' choices of foreign stock excanges. Based on a sample of 459 internationally traded MNCs, with at least one foreign listing on one of nine major stock exchanges (in eight countries) at year-end 1992, we find strong evidence that foreign listing locations are significantly influenced by 1) financial disclosure levels, and 2) the level of exports to a given foreign country.

Suggested Citation: Suggested Citation

Saudagaran, Shahrokh M. and Biddle, Gary C., Foreign Listing Location: A Study of MNCS and Stock Exchanges in Eight Countries (March 5, 1995). Journal of International Business Studies, Vol. 26, No. 2, pp. 319-341, 1995 , Available at SSRN: https://ssrn.com/abstract=1687534