臺灣博碩士論文加值系統

隨著中國經濟快速發展，許多中國企業選擇海外上市以因應全球化的潮流，雖然海外上市必須遵守當地交易所設定之規範與要求，但也讓企業享受到外部融資、提高股票流動性、增加知名度、改善公司治理水準等好處。本文則以上市地點之資訊環境作為判斷指標，探討中國企業以香港、美國、新加坡作為海外上市地點是否由於當地擁有良好的資訊環境。樣本期間為2007年，將分析師預測盈餘報導數量及盈餘預測誤差當作資訊環境的代理變數，分別用來衡量資訊環境之數量與質量，以OLS迴歸模型進行分析，本文所欲探討之議題之一為海外上市是否能改善企業的資訊環境，另一議題則是分析各海外上市地點的資訊環境有無差異。
實證結果顯示：一、以分析師預測數量作為代理變數，於香港、美國、新加坡三地上市皆能改善資訊環境，且香港及美國之間不存在差異，但兩地均優於新加坡；二、以預測誤差作為代理變數，只有當企業於美國上市時預測誤差顯著降低，於新加坡上市則預測誤差反而增加，顯示該地資訊環境品質不佳；三、公司規模愈大、盈餘波動愈小，則企業所獲得的報導數量較多，且預測誤差亦降低。

第一章 緒論 1
第一節 研究動機與目的 2
第二節 中國證券市場 4
第三節 交易所上市規定 6
第四節 研究架構 13
第二章 文獻探討 16
第一節 海外上市動機 17
第二節 海外上市地點之選擇 20
第三章 研究方法 24
第一節 資料來源 26
第二節 資料檢定 28
第三節 模型設定 31
第四章 實證結果 40
第一節 敘述統計 40
第二節 迴歸分析結果 45
第五章 結論與建議 53
參考文獻 55
附錄(海外上市企業名單) 58

林秀鴻，“企業發行美國存託憑證類別選擇之研究：兩岸三地之比較”，政治大學經營管理碩士學程碩士論文，民國九十五年。
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