The study aims to detect the influence of the initial cross-listing of Taiwanese enterprises on the variety of the stock price of the listing company and its rival firms. However, the limitations from the Taiwanese authorities on the local company¡¦s direct listing in the oversea market are not a few. Accordingly, I employ GDR instead of direct international listing to delve the phenomenon of information content and intra-industry transfer derived from a company¡¦s initial GDR offering. Recent studies focusing on the same issue rarely inspect the situation of Taiwanese industries. Thus, the research intends to excavate the effect and the aftermath of a Taiwanese firm¡¦s initial GDR offering on its local market price as well as on the one of its rival company that concurrently does not have GDR offering. To delineate the complication of the issue, the study develop three trajectories mainly based on various approaches, including reference review, event study method, and multi-regression analysis. The first aspect attends to the research result of event study method and multi-regression analysis that exposes the stock price of the GDR offering company has abnormally positive rise accompanying with the announcement of its GDR offerings, particularly in the period before the announcement. That reflects the investors regard the GDR offering as a positive news for a company while the situation turns out to be the opposite for the rival firms. The research also finds that industry differences might dominate the consequence of the GDR offering. Hence, the exemplary simples are divided into the ¡§hi-tech¡¨ industry group and the ¡§non hi-tech¡¨ industry group. Based on the reference review of Melvin and Valero-Tonone¡]2005¡^ and the outcome of the multi-regression analysis, the influence of GDR offering on both industry group will be carefully scrutinized. In addition, the study places another attention on the discussion of intra-industry transferring and the contagion effect of the GDR offering on the offering company and its rival firm. Although Taiwanese enterprises offer GDR mainly in four main trade locations from London, Luxembourg, New York, and NASDAQ, the study exposes that the trade location has less influence on a company¡¦s and its rival firm¡¦s SCAR variation. That implies that Taiwanese investors might recognize the fact of a company¡¦s GDR offering in the oversea market, whereas, they seldom be aware of the trivial differentiation of the disparate trade location. In conclusion, the GDR offering of Taiwanese enterprises indeed encompasses information content that might motivate the alteration of the stock price in Taiwan stock market. Besides, the action of GDR offering supplies intra-industry information transferring effect. Even though the strategy of offering GDR of a Taiwanese company does not rely on consulting the action of its rival firms, in reality and according to the application of game theory, the implementing efficiency of a company¡¦s strategies might probably be impinged by its opponents¡¦ behavior. In other words, while a company offers GDR, its rival firms should propose expedients to reduce the damage that might be caused by the issue information.