"Seeking Capital Abroad: Motivations, Process, and Suggestions for Success"
In the Author's Words
The accelerating pace of global capital market integration in the last two decades
has had a profound impact on the strategies pursued by companies, including their
strategies for accessing capital resources outside of their home markets. Today’s
cross-border capital flows take a variety of forms, including overseas IPOs, foreign
direct investment, cross-border acquisitions, cross listings, and foreign portfolio
investment.
In this article, we discuss the corporate motives and other factors that have contributed to this growth in the international capital-raising activity of companies around the world. Although the U.S. and U.K. exchanges have been the top host markets and continue to capture over half of all foreign listings, we highlight several new stock exchanges that have seen considerable growth in cross-border listings in recent years. But even with all the growth in international capital raising activity, companies often face considerable obstacles in their attempts to source capital outside of their home markets. We discuss the most common of these obstacles and offer a number of suggestions for companies attempting to overcome the liabilities they face as foreign firms in host capital markets.
Bell, G. & Rasheed, A. A. (2016), Seeking Capital Abroad: Motivations, Process, and Suggestions for Success. Journal of Applied Corporate Finance, 28: 104–113.
Faculty Profile: Greg Bell
"You bring me a letter of acceptance to a Catholic school for your child, and I promise your child will attend Catholic school." This is the promise Father Mark Hamlet, BA '68 MBA '70, makes to his congregation at every Mass. The pastor of Sacred Heart Catholic Church in Austin, Hamlet has spent much of his ministry advocating for Catholic school education through his nonprofit foundation, Our Kids at Heart.
+ Read MoreThis past summer, Yeabkal Wubshit, BA '20, earned the internship that every computer science major dreams of: a position at Google -- and spent the summer working on infrastructures for Google Service Accounts at Google's office in Sunnyvale, California.
+ Read MoreThe University of Dallas will celebrate the extraordinary achievements of four alumni with its 2019 Distinguished Alumni Awards. Award recipients Deacon Harold Burke-Sivers, MTS '00, Laura Felis Quinn, BS '86 MBA '18, Judy Kelly, BA '63, and John Parker, BA '83 MBA '89, will be honored for their contributions to their professions, communities and the University of Dallas.
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