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Cross-listing as a Global Depository Receipt: The influence of emerging markets, regulation, and accounting regime

Chugh, Shrutika; Fargher, Neil; Wright, Sue


This paper examines factors influencing international firms' decisions to cross-list as Global Depository Receipts (GDRs). We focus on differences in regulatory and accounting requirements between exchanges and the economic clustering that has arisen with increasing globalization. An important economic influence on this decision is the home country, reflecting trade ties. Higher US regulation and governance requirements influence firms from emerging markets to issue GDRs rather than ADRs on a...[Show more]

CollectionsANU Research Publications
Date published: 2014
Type: Journal article
Source: Journal of Contemporary Accounting and Economics
DOI: 10.1016/j.jcae.2014.10.004


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