| Summary: | 碩士 === 實踐大學 === 企業管理學系碩士班 === 98 === In response to Taiwan’s joining to the World Trade Organization (WTO), the former
Securities and Futures Commission (SFC, now replaced by the Financial Supervisory
Comission, SFC) simplified the rules and procedures of exchange listing since in 2000 to
enhance our competitiveness in security market. As a result, there is a rapid growth in the
number of exchange listing corporation. However, in the Republic of 2005 criteria for listing
on OTC switch changes caused by significantly changing the number of listed companies at
home less. OTC exchange listing must apply mutatis mutandis to the present are generally
more stringent initial listing of the stock case review process, the reception of the checkpoints
review test. Hope that through the OTC switch market to re-examine mechanisms to improve
the quality of the distribution market, making the Republic of China Republic during 2005 to
2008 for the successful OTC switch market number of rapid decline. And what the
shareholder and the investor care the most in that period should be listing switching from
Over the Counter (OTC) to Taiwan Stock Exchange (TSE).
Using quarterly financial ratios, this study examined whether the fundamentals of
common stocks of the corporations switching from the Over the Counter (OTC) to the Taiwan
Stock Exchange (TSE) in stock market are significantly different before and after. The
research subjects were the companies successfully switching during 2001-2008.
The results showed that taking exchange listing as the event date, there were no
significant changes on the samples after the event date. There were companies in only five
industries have distinguished changes in fundamentals after exchange listing as the event date,
namely chemistry industry, electronic components industry, electronic access industry,
computer and peripheral equipment industry, and shipping industry.
Keywords: Exchange listing, Fundamental, Financial ratio
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