The Relationship among The Cross-listing and Business Value

• Main Authors: YI LIN CHEN, 陳怡霖
• Other Authors: Ho Lung Lee
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/79292314605589490662

碩士 === 國立高雄應用科技大學 === 商務經營研究所 === 98 === The research investigate the influence of cross-listing and different listing places on business value between SEC and OTC in Taiwan. Firstly, to explore what are the motives of Taiwan enterprise go listing abroad. In recent years, Taiwan’s enterprises, in order to seek funding, have to go listing abroad. Secondly, to research what cross-listing are the effect on business value. According to past literature most study use ROA and Tobin’s Q as business value. With regard to different listing places to probe into what are the effect on business value. That is the main concern in this research, too. The research implement multiple regression to analysis the relation of cross-listing and listing places on ROA and Tobin’s Q from 2006 to 2008. In addition, the results of regression show that there is positive correlation between ROA and cross-listing of all industries. Furthermore, the study investigates that between listing places and business value. From the results, we find that except for non-electronics industry, there is also positive relationship between listing places and Tobin’s Q. This finding is in accordance with past studies.