Resales of Offshore Securities into the United States: Evaluating the Overvaluation Risk to U.S. Investors

Abstract

This Article furnishes evidence on the offering discount consistent with the hypothesis that foreign investors were in fact unable to engage in resales ahead of the U.S. secondary market reaction to a Regulation S offering.

Keywords

Securities -- International regulation, Foreign banks, Securities industry, Securities law

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Authors

Stephen J. Choi (New York University)

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