"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
Dallas-area native and Door Number 9 designer Elisa Choffel Low, BA '03, will have her latest dress design showcased on the red carpet at the Emmy Awards in Los Angeles on Sunday, Sept. 22. The silver open-back vintage-style gown includes a striking chainmail jewelry inset created in collaboration with Toronto jewelry designer Kyra Matsui.
+ Read MoreOn Friday, Sept. 13, the university community welcomed George Weigel, distinguished senior fellow of the Ethics and Public Policy Center and the father of two UD alumnae. Celebrated for his two-volume biography of St. John Paul II and many other intellectual contributions, Weigel presented an exploration of the current Catholic situation in light of a new interpretation of the past 250 years of the church's interaction with social, cultural, economic and political modernity.
+ Read MoreGabe Dickey, DBA '19, recently successfully defended his dissertation, titled "Exploring the Human Side of Audit Quality: Team Engagement and Partner Leadership Behaviors," for UD's Doctor of Business Administration. Dickey has spent his career in the accounting profession, the vast majority as a certified public accountant working in auditing. He began UD's DBA program three years ago, drawn in by his interest in broader business issues and the program's practitioner-oriented focus.
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