What is it about?
Our findings for 327 FIPOs from 36 countries between 1990 and 2012 reveal that US IPO liability of foreignness in liquidity is moderated, but not eliminated, by FIPO home country attributes, thus indicating incomplete bonding with US institutions.
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Why is it important?
Because liquidity is a primary motive for US IPOs, this evidence is informative to foreign firms considering US IPOs, exchanges competing for them, listing facilitators, regulators, and investors.
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This page is a summary of: Does a liability of foreignness in liquidity apply to US IPOs?, Accounting and Business Research, January 2023, Taylor & Francis,
DOI: 10.1080/00014788.2022.2150595.
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