Handbook of Research on IPOs
Show Less

Handbook of Research on IPOs

Edited by Mario Levis and Silvio Vismara

The Handbook of Research on IPOs provides a comprehensive review of the emerging trends and directions in the global initial public offerings (IPO) markets. The empirical evidence included in the book covers Europe, the US and the Far East, and presents a truly global perspective of IPO markets around the world and at the different stages of the entire IPO process.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 23: An empirical analysis of cross-listing decisions in share-issue privatizations: evidence from developed and developing countries

Juliet D’Souza, William L. Megginson and Robert Nash


Privatization, the sale of previously state-owned enterprises (SOEs) to private investors, has transformed financial markets around the world. An economic and political event as profound as privatization raises many important questions, such as why governments privatize, how they privatize, and where (in which markets) governments choose to sell shares. As summarized in Megginson and Netter (2001) and Estrin et al. (2009), financial economists have thoroughly examined the ‘why’ question (Megginson et al., 1994;Dewenter and Malatesta, 1997; Boubakri and Cosset, 1998) and the ‘how’ question(Boycko et al.,1996; Jones et al., 1999; Megginson et al., 2004). On the other hand, the ‘where’ question has received less attention. In this chapter we identify factors that affect a government’s decision regarding whereto privatize. We specifically examine the firm-level and institution-level factors that may affect why some share-issue privatizations (SIPs) are conducted entirely on domestic equity markets while others involve cross-listings, whereby all or part of the offering is done on a foreign equity market.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.