Working Paper

What Makes the Bonding Stick? A Natural Experiment Testing the Legal Bonding Hypothesis

We use a US Supreme Court case, Morrison v. National Australia Bank (2010), as a natural experiment to test the legal bonding hypothesis. By decreasing the potential liability of US-listed foreign firms, particularly due to class action lawsuits...Read more

Amir Licht
Christopher Poliquin
Xi Li
27 August 2017

On the Fortunes of Stock Exchanges and Their Reversals: Evidence from Foreign Listings

Using a sample that provides unprecedented detail on foreign listings for 29 exchanges in 24 countries starting from the early 1980s, we show that although firms list in countries with better investor protection, they are less likely to list in...Read more

Nuno Fernandes
Mariassunta Giannetti
01 August 2008