Although foreign institutional ownership (FIO) is generally considered as an important outcome of international cross-listings, much of the prior research ignores the iterative nature of FIO – that is, FIO may also serve as a key determinant of cross-listings. Using a comprehensive dataset of...

We show that investor recognition and bonding associated with a U.S. cross-listing are distinct effects using a sample of Canadian firms. In contrast to the post-listing decline documented in the literature, we find that cross-listed firms with a single class of shares enjoy a permanent increase...