碩士 / 靜宜大學 / 會計學系 / 101 / The study investigates into the association between corporate governance and cross-listing. From three dimensions of corporate governance-board structure, ownership structure and disclosure transparency, the study attempts to explore two research questions: (1) are there significant differences in corporate governance characteristics between cross-listing public companies and non-cross-listing ones? (2) what are corporate governance risk factors that induce public companies to cross listing? The study identifies the test sample which has cross-listed during the period from 2005 to 2012, and select the matching sample based on median assets size of companies in the test sample. The study tests significant differences in corporate governance characteristics between cross-listed and non-cross listed public companies with both the t and Mann-Whitney tests. The study also examines corporate governance risk factors contributing to cross listing with the logistic regression analysis.
The study findings indicate that, in terms of cross-listed public companies with outstanding American and Global depository receipts, significant differences in CEO duality, managerial ownership, and institutional holdings exist between them and non-cross-listed public companies, regardless of company size. In terms of cross listed public companies with issuance of either depository receipts or European convertible bonds, the greater institutional holdings, the higher propensity for the companies to being cross-listed. In terms of cross-listed firms with depository receipts outstanding only, the smaller the board size, the higher propensity for them to being cross-listed. In terms of cross-listed firms with European convertible bonds only, the rank of disclosure transparency is a significantly contributing factor to cross-listing.
| Identifer | oai:union.ndltd.org:TW/101PU000385013 |
| Date | January 2013 |
| Creators | Ou, Yuju, 歐毓茹 |
| Contributors | Chen, Chiahui, 陳佳煇 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 66 |
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