Summary of What Does It Take to List Abroad?

The Role of Global Underwriters

Federal Reserve Board,

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What Does It Take to List Abroad?  summary
In helping firms raise capital overseas, global underwriters are promoting financial globalization.

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Companies are increasingly considering foreign capital markets for their initial public offerings. Economists Cecilia R. Caglio, Kathleen Weiss Hanley and Jennifer Marietta-Westberg look into the factors that influence a firm’s decision to go public abroad in their astute study. It highlights the role of global underwriters, which shape both the way firms access global capital and the channels of cross-border flows. getAbstract suggests their scholarly report to entrepreneurs, financial executives and investors.

In this summary, you will learn

  • What factors affect a company’s decision to go public abroad and
  • How global underwriters play a role in the foreign IPO process.
 

Summary

More and more, businesses around the world are looking to raise capital in overseas markets. Between 1990 and 2001, an estimated 12.2% of the capital companies acquired through initial public offerings (IPOs) came from foreign stock listings. The growing ranks of global underwriters brought in some ...
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About the Authors

Cecilia R. Caglio is with the Federal Reserve Board of Governors, Kathleen Weiss Hanley is a professor at Lehigh University, and Jennifer Marietta-Westberg is with the US Securities and Exchange Commission.


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