THE PAKISTAN DEVELOPMENT REVIEW
Strategic Change in Operating Trends of Public Listed Companies and Its Impact on StockMarket Growth
The primary concern of the present study is to examine the impact of cross-listing on the stock market growth. The theoretical framework for the research was developed by taking the members of the World Federation of Exchanges (WFE) as statistical frame. For analysis and statistical calculations in the study a Structural Equation Modelling (SEM) technique is used. The results suggest a significant and positive impact of cross-listing on stock market growth indicators except on the value of share trading. The study concludes that cross-listing is fruitful for stock market growth of host stock exchanges. It recommends that host countries should create conducive environment for offshore listing.