Mainly because US investors are lazy investors:
- The security is in USD (no change required)
- The security trades at normal US trading hours (not with time delay due to time differential btw the US and the country of origin of the company)
- It is treated as a local security in your tax declaration hence easier to declare to taxes from an individual investor’s perspective
Why do companies list on stock exchanges at all? Answer that question and you’ll understand how to answer your question.
To raise money from the public.
Exactly, so does it make sense to expose your listing to another country’s public if you think you can raise more 💰?
So I guess the missing piece here is for many people it’s much easier to buy and hold shares from an exchange in their own country.
Additionally, they get bought by index funds that buy shares that are listed on particular exchanges.
It’s not just because they want to raise money, they want to raise dollars specifically.
That said, China has been pushing companies towards domestic capital markets, which run on Yuan.
Liquidity
Liquidity would be my guess.
But Wikipedia has a decent article on Cross Listed companies
