The Overseas-listed Company Valuation of the Home-market Characteristics, Company Characteristics—the Case of the U.S. and Hong Kong Markets
- DOI
- 10.2991/978-94-6463-527-0_9How to use a DOI?
- Keywords
- The Overseas-listed Company Valuation; Home market characteristics; Company characteristics; Tobin’q model
- Abstract
This paper selects overseas-listed companies in the U.S. and Hong Kong markets from 2000 to 2018, and uses the Tobin’q model to analysis the valuation effects on home market characteristics and company characteristics. The results show that: the level of economic development of home market, the size of company, and the financial performance are the main factors affecting the overseas companies’ valuation. The valuation of overseas companies is significantly related to the economic development of home market, but the longer the company’s duration, the lower the correlation between company’s valuation and home market’s economic, and the stronger the dependence on host market. This study provides a few implications for the market and listing companies to improve valuation.
- Copyright
- © 2024 The Author(s)
- Open Access
- Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.
Cite this article
TY - CONF AU - Mengmeng Ma AU - Ronghua Yi AU - Ying Yu PY - 2024 DA - 2024/09/28 TI - The Overseas-listed Company Valuation of the Home-market Characteristics, Company Characteristics—the Case of the U.S. and Hong Kong Markets BT - Proceedings of the SSEME workshop on Economics and Management (SSEME-EM 2024) PB - Atlantis Press SP - 81 EP - 90 SN - 2352-5428 UR - https://doi.org/10.2991/978-94-6463-527-0_9 DO - 10.2991/978-94-6463-527-0_9 ID - Ma2024 ER -