Abstract
High growth, liquid Chilean firms have greater relative weights in US equity portfolios, but the most important determinant of a firm's portfolio weight is whether it is listed on a US exchange. Cross-listing does not, however, appear to have permanent benefits: weights in US portfolios of firms that cross-listed in the mid-1990s increased at the expense of firms that cross-listed earlier. Put another way, firms appear to be able to access international capital at the time of the cross-listing, but this access may well be short-lived.
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