Finance.

The article looks at cross-border stock listings. To understand what foreign companies can expect when they list their shares in the U.S., the article examines a study by Andrew Karolyi and Stephen Foerster that tracked the performance, especially the stock-price behavior, of various companies from Asia, Australia, Canada, and Europe that listed their stock in the U.S. between 1976 and 1992. The study found that on average, during the year before they were listed in the U.S., the foreign companies' stocks rose 22% in their local markets and the year following the listing the stocks declined by 13%. The article also discusses volatility.