Foreign vs. domestic listing: An entrepreneurial decision

被引：40
作者：
Ding, Yuan [1 ]
Nowak, Eric [2 ]
Zhang, Hua [1 ]
机构：
[1] CEIBS, Shanghai 201206, Peoples R China
[2] Univ Lugano USI, Lugano, Switzerland
来源：
JOURNAL OF BUSINESS VENTURING | 2010年 / 25卷 / 02期
关键词：
Entrepreneurial firms; IPO; Foreign stock listing; Corporate governance; China; MANAGEMENT; OWNERSHIP; COMPANIES; COSTS;
D O I：
10.1016/j.jbusvent.2008.05.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper, we use a unique hand-collected dataset to analyze stock listing as an entrepreneurial decision. By comparing mainland Chinese entrepreneurial firms listed in Hong Kong with the same type of firms opting for a domestic listing on the Shenzhen second board market, we argue that the decision to list on a particular stock exchange is a question of entrepreneurial signaling, and often a trade-off between short-term financial considerations and the entrepreneur's pursuit of long-term benefits. (C) 2008 Elsevier Inc. All rights reserved.
引用
收藏
页码：175 / 191
页数：17
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