碩士 / 淡江大學 / 會計學系碩士班 / 98 / This study examines the effect of corporate governance and political connection on overseas listing decision of Chinese H-share companies. At the initial stage of securities market development, Chinese government picked some state-owned enterprises to go public in overseas securities markets for improving their corporate governance. Therefore, it is expected that the corporate governance mechanisms of overseas listed companies will be superior to other Chinese listed companies. Besides, as most of the overseas listed companies belong to state-owned enterprises, their overseas listing strategies, for realizing economic planning goals, raising international reputation, improving their performances and enhancing political figures’ influence, are susceptible to political factors. Therefore, it is expected that these overseas listed companies will have higher-degree political connection than other Chinese listed companies. In its second part, this study explores whether the Chinese companies listed overseas will make reform according to relevant Chinese regulation systems to improve their corporate governance, and thus further to improve the quality of accounting information. Besides, it explores whether the Chinese companies listed overseas will obtain improvement in corporate governance due to abiding by relatively strict supervision norms in the listing places.
Taking the H-share companies listed in Hong Kong Stock Exchange from 2003 to 2008 as research objects, this study reaches the following major findings: (1) H-share company has fewer controlling shareholders than A-share company, with higher-degree of check-and-balance of stock ownership, more independent directors and fewer presidents serving as general manager concurrently; (2) H-share company has more management hierarchies or its president has experience in serving as government official or holding a military post and it has larger scale than A-share company; (3) The empirical results of the second part of this study doesn’t support that H-share company has earnings conservatism, and the results demonstrate that the degree of the earnings conservatism of H-share company is better than that of A-share company.
| Identifer | oai:union.ndltd.org:TW/098TKU05385027 |
| Date | January 2010 |
| Creators | Chi-Yueh Lu, 呂其岳 |
| Contributors | 孔繁華 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 56 |
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