The Impact of Listing Switching from OTC to TSE on Fundamental Differences

• Main Authors: Cherry, 彭群媛
• Other Authors: ShinTa Tung
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/06272863336569329860

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