| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17839 |
| 来源ID | Working Paper 17839 |
| U.S. International Equity Investment | |
| John Ammer; Sara B. Holland; David C. Smith; Francis E. Warnock | |
| 发表日期 | 2012-02-09 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | U.S. investors are the largest group of international equity investors in the world, but to date conclusive evidence on which types of foreign firms are able to attract U.S. investment is not available. Using a comprehensive dataset of all U.S. investment in foreign equities, we find that the single most important determinant of the amount of U.S. investment a foreign firm receives is whether the firm cross-lists on a U.S. exchange. Correcting for selection biases, cross-listing leads to a doubling (or more) in U.S. investment, an impact greater than all other factors combined. We also show that our firm-level analysis has implications for country-level studies, suggesting that research investigating equity investment patterns at the country-level should include cross-listing as an endogenous control variable. We describe easy-to-implement methods for including the importance of cross-listing at the country level. |
| 主题 | International Economics ; International Finance ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w17839 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575514 |
| 推荐引用方式 GB/T 7714 | John Ammer,Sara B. Holland,David C. Smith,et al. U.S. International Equity Investment. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17839.pdf（587KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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