Working Paper

01 February 2005

Private Benefits of Control, Ownership, and the Cross-Listing Decision

This paper investigates how a foreign firm's decision to cross-list on a U.S. stock exchange is related to the consumption of private benefits of control by its controlling shareholders. Theory has proposed that when private benefits...

Craig Doidge | Andrew Karolyi | Karl Lins | Darius P. Miller | René Stulz