This paper uncovers the phenomenon of involuntary CL, which many stock exchanges have strategically adopted by simplifying listing requirements for companies already listed in other stock markets, focusing on US restaurant companies. The number of involuntarily cross-listed US restaurant...

We study relationships between stock returns on U.S. and German exchanges for U.S. restaurant companies. Specifically, we examine whether information asymmetry affect how much stock returns in Germany lag stock returns of the same company on U.S. markets. German and U.S. investors differ in...