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How the Globalization of Capital Markets Has Affected the Listing Behavior of Foreign Issuers

The Case of Daimler's Listing on the NYSE


Seminar Paper, 2011

49 Pages, Grade: Honors


Excerpt


TABLE OF CONTENTS

I. INTRODUCTION

II LISTING ON THE NYSE AND ITS CONSEQUENCES
A. DAIMLER’S ADR LISTING
B. CONSEQUENCES FOR DAIMLER
C. DAIMLER’S REASONS FOR LISTING
1. LIQUIDITY
2. PRESTIGE
3. BONDING
4. DAIMLER’S NEED FOR RESTRUCTURING

III. LEGISLATIVE CHANGES IN GERMANY AND THE U.S
A REFORM OF THE GERMAN FINANCIAL MARKETS
1. THE SECURITIES TRADING ACT (1994)
2. THE TAKEOVER ACT (2002)
B. IAS/IFRS
C. SARBANES-OXLEY AND ITS GERMAN COUNTERPARTS
1. SOX’S CORE PROVISIONS
2. INCONSISTENCIES/CONFLICTS WITH GERMAN LAW
3. DUAL COMPLIANCE COST

IV. TRADING IN DAIMLER SHARES TODAY
A DELISTING REQUIREMENTS
B. CHANGED INVESTOR BEHAVIOR
C. ADR PROGRAM

V. CONCLUSION

APPENDIX A. HISTORY OF GERMAN COMPANIES ON THE NYSE

APPENDIX B. DELISTINGS BY FOREIGN COMPANIES IN NUMBERS

APPENDIX C. DOMESTIC AND FOREIGN DELISTING RATES

APPENDIX D. CROSS-HOLDINGS IN GERMAN PUBLIC COMPANIES IN 1996 AND 2002

APPENDIX E. FOREIGN OWNERSHIP OF DAX 30 COMPANIES (AS OF 2005)

Excerpt out of 49 pages

Details

Title
How the Globalization of Capital Markets Has Affected the Listing Behavior of Foreign Issuers
Subtitle
The Case of Daimler's Listing on the NYSE
College
Fordham University School of Law
Grade
Honors
Author
Year
2011
Pages
49
Catalog Number
V174214
ISBN (eBook)
9783640945801
ISBN (Book)
9783640946129
File size
958 KB
Language
English
Keywords
Daimler, NYSE, capital markets, foreign issuers, SEC, listing, delisting
Quote paper
Andreas Wöller, LL.M. (Fordham) (Author), 2011, How the Globalization of Capital Markets Has Affected the Listing Behavior of Foreign Issuers, Munich, GRIN Verlag, https://www.grin.com/document/174214

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