Fernandes, Nuno; Ferreira, Miguel A. - In: Journal of Financial Economics 88 (2008) 2, pp. 216-244
We investigate whether cross-listing in the U.S. affects the information environment for non-U.S. stocks. Our findings suggest cross-listing has an asymmetric impact on stock price informativeness around the world, as measured by firm-specific stock return variation. Cross-listing improves price...