A Study of Chinese Reverse Mergers in United States Capital Markets

Charles W. DuVal, Will Quilliam


This article examines Chinese reverse mergers (RMs), historically a popular method for Chinese companies to enter the United States capital markets. The authors develop a regression model to identify the characteristics associated with successful Chinese RM companies and compare their long term performance to other benchmarks, to include U.S. reverse mergers, Chinese cross-listed firms and the Russell 2000.


Chinese; reverse mergers; capital markets

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