This study provides evidence that Mexican firms that choose to trade in the U.S. as exchange-listed American Depositary Receipts (ADRs) have significantly weaker ex post (subsequent to cross listing) financial performance compared with Mexican firms that are eligible to list in the U.S., but do...

A partir de un articulo de G. Ranis en el Wall Street Journal (octubre de 1983) en el que se propone una comparacion general entre las estrategias de desarrollo seguidas por los paises menos desarrollados de America Latina y del Este de Asia, el autor invita a considerar la restauracion de la...

Lev and Zarowin (1999) argue that the there has been a decline in the usefulness of financial information in the U.S. resulting from the inability of the current financial reporting system to contemporaneously capture changes in firms' operations and economic conditions. As a result, it appears...