Firm Value, the Sarbanes-Oxley Act and Cross-Listing in the US, Germany and Hong Kong Destinations

2010 ◽  
Author(s):  
Marcelo Bianconi ◽  
Richard Chen ◽  
Joe Akira Yoshino
Keyword(s):  
Hong Kong ◽  
Firm Value ◽  
Cross Listing ◽  
Sarbanes Oxley ◽  
The Us

Cross-Listing, Firm Valuation, and Corporate Governance

2013 ◽  
pp. 108-154
Keyword(s):  
New York ◽  
Corporate Governance ◽  
Hong Kong ◽  
Firm Value ◽  
Stock Exchange ◽  
Firm Valuation ◽  
Stock Exchanges ◽  
Refined Theory ◽  
Bonding Theory ◽  
Cross Listing

This chapter examines a unique dataset, which, to the best of my knowledge, has not hitherto been used. It concerns the relationship between corporate governance and firm value in the context of Chinese firms cross-listed on major international exchanges, which include the NASDAQ, the New York Stock Exchange (NYSE), the Hong Kong Main Board, the Hong Kong Growth Enterprise Market (GEM), the Singapore Stock Exchange, and the London Alternative Investment Market (AIM). The study is grounded in the bonding theory, which asserts that stringent corporate governance requirements imposed by overseas regulations enhance firm value. Contrary to this theory, firms listed on stock exchanges in mainland China alone command significantly better value than those that are cross-listed on overseas stock exchanges. This results in the conclusion that the general bonding theory cannot adequately explain how cross-listing affects firm valuation in the Chinese context, and thus a refined theory is required.

Does the jump risk in the US market matter for Japan and Hong Kong? An investigation on the REIT market

2020 ◽  
Vol 34 ◽  
pp. 101238
Author(s):  
Chi-Wei He ◽  
Kuang-Liang Chang ◽  
Yung-Jang Wang
Keyword(s):  
Hong Kong ◽  
Jump Risk ◽  
The Us

Liquidation risk in the presence of Chapters 7 and 11 of the US bankruptcy code

2014 ◽  
Vol 01 (03) ◽  
pp. 1450023 ◽  
Author(s):  
Bin Li ◽  
Qihe Tang ◽  
Lihe Wang ◽  
Xiaowen Zhou
Keyword(s):  
Diffusion Process ◽  
Explicit Formula ◽  
Firm Value ◽  
The State ◽  
The Us ◽  
Quantitative Understanding ◽  
State Changes ◽  
Bankruptcy Code ◽  
General Time

We aim at quantitatively measuring the liquidation risk of a firm subject to both Chapters 7 and 11 of the US bankruptcy code. The firm value is modeled by a general time-homogeneous diffusion process in which the drift and volatility are level dependent and can be easily adjusted to reflect the state changes of the firm. An explicit formula for the probability of liquidation is established, based on which we gain a quantitative understanding of how the capital structures before and during bankruptcy affect the probability of liquidation.

scholarly journals The mission thing

1994 ◽  
Vol 23 (4-5) ◽  
pp. 38-42
Author(s):  
Ted Turner
Keyword(s):  
Human Rights ◽  
Hong Kong ◽  
Us Congress ◽  
The Us ◽  
Laissez Faire

While the US congress was debating whether to continue China's Most Favoured Nation status, and Clinton was going back on his election promises, CNN's boss in Hong Kong was appealing for a laissez-faire approach to human rights

Cross-listing, foreign independent directors and firm value

2021 ◽  
Vol 136 ◽  
pp. 695-708
Author(s):  
Seungjoon Oh ◽  
Keli Ding ◽  
Heungju Park
Keyword(s):  
Firm Value ◽  
Independent Directors ◽  
Cross Listing

scholarly journals The Meaning of Aggression Varies Across Culture: Testing the Measurement Invariance of the Refined Aggression Questionnaire in samples from Spain, the US, and Hong Kong

2018 ◽  
Author(s):  
David Gallardo-Pujol ◽  
Eva Penelo ◽  
Cindy Sit ◽  
Montsant Jornet-Gibert ◽  
Carlos Suso ◽  
...  
Keyword(s):  
Factor Analysis ◽  
Hong Kong ◽  
Cultural Differences ◽  
Measurement Invariance ◽  
Cultural Variables ◽  
Confirmatory Factor ◽  
The Us ◽  
Aggression Questionnaire ◽  
Behavior Models ◽  
Refined Version

Cultural differences in aggression are still poorly understood. The purpose of this article is to assess whether a tool for measuring aggression has the same meaning across cultures. Analyzing samples from Spain (n=262), US (n=344) and Hong-Kong (n=645), we used confirmatory factor analysis to investigate measurement invariance of the refined version of the Aggression-Questionnaire (Bryant & Smith, 2001). The measurement of aggression was more equivalent between the Chinese and Spanish versions than between these two and the American version. Aggression does not show invariance at the culture level. Cultural variables such as affective autonomy or individualism may influence the meaning of aggression. Aggressive behavior models can be improved by incorporating cultural variables.

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