本文对交叉上市与公司治理领域的前沿文献进行了综述。首先阐述了交叉上市的约束假说,并就交叉上市对公司治理机制的影响进行了理论分析,进而对考察交叉上市效应的检验方法和经验证据进行了总结。总体说来,尽管交叉上市的约束效应有助于公司治理的改进,但这种改进作用可能是有限的。这意味着交叉上市本身并不能替代母国的基础制度建设。最后,本文提出,了未来可能的研究方向。
In this paper, we make a review on the literature of ,cross listing and corporate gov- e.rnance. We first explain the bonding hypothesis of cross listing, and then make a theoretical analy- sis on the impact of cross-listing on governance mechanism, summarize the methods testing the cross listing effect and review the relevant evidence. Overall, although the bonding effect of cross listing is beneficial for the improvement of corporate governance, the improvement is limited. It means that cross listing alone can not replace the basic system construction. Finally, we propose the research direction in the future.