Cross-listing flows under uncertainty: an international perspective

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dc.citation.issue19
dc.citation.volume56
dc.contributor.authorAgyemang A
dc.contributor.authorBalli F
dc.contributor.authorGregory-Allen R
dc.contributor.authorBalli HO
dc.date.accessioned2024-05-29T23:50:28Z
dc.date.available2024-05-29T23:50:28Z
dc.date.issued2024
dc.description.abstractThe impact of policy uncertainty on corporate decisions and strategies continues to receive significant interest in recent discussions. As a contribution, this study examines how economic policy uncertainty (EPU) in the domestic and global markets impacts corporate cross-listing decisions. To this end, we employ firm and country-level data from 1990 to 2016 from 13 countries. We implement a Granger Causality, Quantile on Quantile Regression (QQR), and Wavelet Coherence approaches and show that monthly local and global EPU influence the cross-listing decisions of firms, with stronger influence for firms from smaller domestic markets. We suggest that firms from smaller domestic markets seek more cross-listing in the face of high local EPU and reduce or avoid cross-listing during high global EPU periods. Our findings suggest that policy transparency could have important implications for current and future corporate decisions.
dc.description.confidentialfalse
dc.edition.edition2024
dc.format.pagination2357-2374
dc.identifier.citationAgyemang A, Balli F, Gregory-Allen R, Balli HO. (2024). Cross-listing flows under uncertainty: an international perspective. Applied Economics. 56. 19. (pp. 2357-2374).
dc.identifier.doi10.1080/00036846.2023.2186368
dc.identifier.eissn1466-4283
dc.identifier.elements-typejournal-article
dc.identifier.issn0003-6846
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/69703
dc.languageEnglish
dc.publisherTaylor and Francis Group
dc.publisher.urihttps://www.tandfonline.com/doi/full/10.1080/00036846.2023.2186368
dc.relation.isPartOfApplied Economics
dc.rights(c) The author/sen
dc.rights.licenseCC BY-NC-NDen
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/en
dc.subjectEconomic policy uncertainty
dc.subjectcross-listing
dc.subjectGranger Causality
dc.subjectQuantile on Quantile Regression
dc.subjectand Wavelet Coherence
dc.titleCross-listing flows under uncertainty: an international perspective
dc.typeJournal article
pubs.elements-id460753
pubs.organisational-groupOther
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