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    jsp.display-item.identifier=請使用永久網址來引用或連結此文件: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/77703

    题名: The Determinants of Overseas Listing Decision: Evidence from Chinese H-share Companies
    其它题名: 企業跨境掛牌決策因素:以中國在香港掛牌之國企股為例
    作者: Kung, Fan-Hua;Cheng, Chia-Ling
    贡献者: 淡江大學會計學系
    关键词: overseas listing;Chinese H-shares;corporate governance;political relations
    日期: 2012-09-05
    上传时间: 2012-07-12 02:47:19 (UTC+8)
    出版者: Basingstoke: Palgrave Macmillan Ltd.
    摘要: This article examines determinants in the decision of Chinese companies to seek overseas listings. Because most H-share companies listed in Hong Kong are state-owned, factors related to both politics and corporate governance have a profound influence on the decision to list overseas. The sample in this study comprised all listed Chinese companies that issued A-shares and mainboard-listed H-shares between 2003 and 2008. We hypothesize that companies are motivated to list overseas in accordance with political and corporate governance arguments. Our results support this assertion. Companies with strong political ties (generally large-scale ventures, managed by politically connected CEOs, and considered to be in strategic industries) demonstrate a pronounced inclination to list overseas. We also found that in H-share companies listed in Hong Kong, ownership tends to be more balanced, with a larger number of independent directors, and few instances of controlling shareholders or CEO duality, compared with the situation in pure A-share companies.
    關聯: Asian Business & Management,11(5), p.591-613
    DOI: 10.1057/abm.2012.24
    显示于类别:[會計學系暨研究所] 期刊論文


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