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The Bonding Effect in Cross-Listed Chinese Companies: Is it Real?
Social Science Research Network
A common explanation offered for PRC companies' listing overseas is that they receive a price premium because listing overseas demonstrates a willingness to submit to the more shareholder-protective regulatory regime of the foreign jurisdiction and stock market. This explanation is commonly known as the bonding hypothesis. There is some empirical support for the proposition that listing overseas does indeed bring a price premium, although issues of causality are difficult to sort out. If it isdoi:10.2139/ssrn.2710717 fatcat:2jzuzzhg2bdgpcffvobzir366q