The Development of Cross-listing Companies:the Evidence from"A+H"Share in China
以1993至2006年中国A+H交叉上市公司为样本，实证检验交叉上市是否促进公司增长，发现交叉上市通过降低外部融资成本、将资金投向盈利项目，推动了公司增长，为企业和监管决策提供参考。
The paper uses ChineseA+Hcross-listing companies within the period 1993 to 2006 as a sample to examine empirically whether cross-listing contributes to higher firm growth.The results show that higher externally financed growth following cross-listing,as cross-listing improves firm's access to lower cost external financing and funds raised via cross-listing can be channeled towards potentially profitable projects.It helps clarify the discussion towards short-term pros and cons of cross-listing,and provide support to companies and regulatory authorities for proper decision and policy making.