콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Economic Administration
Government and Law Laws and Legislation

Print

Cross-listing of Korean companies on foreign exchanges : Law and policy

Related Document
Frame of Image
  • Cross-listing of Korean companies on foreign exchanges
  • Kim, Hwa-Jin
  • Seoul National University(BK 21 Law)


link
Title Cross-listing of Korean companies on foreign exchanges
Similar Titles
Sub Title

Law and policy

Material Type Reports
Author(English)

Kim, Hwa-Jin

Publisher

[Seoul]:Seoul National University(BK 21 Law)

Date 2003
Journal Title; Vol./Issue Journal of Korean Law:vol. 3(no. 1)
Pages 16
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Government and Law < Laws and Legislation
Holding Seoul National University

Abstract

The Korean case may be the only example that shows governmental adoption of the piggybacking paradigm focusing on cross-listing. The story of Korea is particularly interesting because it tells us the opposite of what many developing countries pursue in respect of migration of their firms to foreign markets. What caused Korea to adopt such a policy? Perhaps, it was the exogenous shocks it experienced durign the financial crisis in 1997 followed by the involvement of international lending agencies in an unprecedent sweeping reform process. This essay reviews current discussions on the relations between cross-listing and corporate governance reform from a Korean perspective. Being largely descriptive, this essay focuses on the Korean government’s new policy towards corporate sector and capital markets reforms through cross-listing of the Korean firms on foreign exchanges. After a quick introduction to some empirical findings on market reaction to cross-listings of Korean companies, it discusses recent change in regulations that govern the cross-listing of Korean companies on foreign exchanges as well as that of foreign companies on Korean exchanges. This essay concludes by putting the Korean situation in context of the on-going academic discussions on competition among stock exchanges and regulatory competition on an international scale.