Empirical Research On Cross-listing, Corporate Governance And Earnings Quality

By the end of2010，a total of63companies listed in Shanghai andShenzhen stock exchange (A shares) and overseas capital markets ofdeveloped countries and regions (Hong Kong, of United of, Singapore,United Kingdom)at the same time. As the number of cross-listing firmsincreases, compared with of no cross-listed companies, they reflect somequality of their own on earnings, corporate governance, corporate value.We explore the impact of cross-listing of Chinese enterprises on corporategovernance at the sight of earnings quality.Based on constraint hypothesis, general view is that cross-listingcan improve corporate governance. But there are some questions toconstraints hypothesis, and enterprises’ cross-listing path in China isa significant difference from others. In this paper, we draw on relevantresearch results, Inspect that whether the earnings quality ofcross-listing enterprises is higher than other enterprises, as well asthe effect of cross-listing on corporate governance.In this paper, we view operability accruals as indicators of quality of accounting earnings. Select companies cross-listed on A+H shares andcompanies listed only on A share as the samples. Do descriptive analysisand multiple regression analysis. Examine the relationship amongcross-listing, accounting earnings quality and corporate governance. Theresults show that accounting earnings quality of cross-listed companiesis better than that only in the listed A-share companies accountingearnings quality. That’s to say companies listed in A share companiescan enhanced by external governance constraints of cross-listing. Inaddition, the quality of earnings quality after cross-listing of willshowed a volatility ascend, and in the past two years, tends to smooth,proving the impact of cross-listing has of time effect.Chapter1describes the search background and significance isdescribed. Chapter2combs at the literature on the cross-listing,corporate governance and accounting earnings quality, and being Familiarwith the research direction and existing results. Chapter3presents thetheoretical basis, and put forward the theoretical significance. Chapter4does study design, determine the sample variable model and pave the wayfor below empirical research; study design, go on empirical research. By means of descriptive analysis and regression analysis method, this paperanalyzes the problem and draws a conclusion. Chapter5through the earliertheoretical analysis combined with empirical findings draw this articleconclusion.