Impact Of Cross-listed Companies Corporate Governance Structure Of Financial Risk

Since the2008global financial crisis, after a rest period of five countries in thecapital markets have been gradually recovering from the impact came, although notcompletely out of the financial crisis, international finance and international capitalmarkets to the global economy the pace of integration of direction did not stop, in thiscontext, China’s enterprises listed overseas momentum has increased, especially in theoverseas realize many companies have chosen to return to the IPO after the domesticmarket, the more they push the Chinese scholars research issues related to cross-listingof companies. Scholars question the study listed companies mainly from cross motif,site selection and angle of its impact on the value of the company ’s departure, but thestudy of the behavior of cross-listed companies on the impact of financial risk is indeedrare, so this paper on cross-listed companies to influence corporate governance structureof the financial risk as the main content, research from the perspective of cross-listing offinancial risk behaviors, expectations through the analysis of relevant theories andempirical test results cross-listed companies and financial risks are relevant, if relevant,then the reflected how relevant.Mainly studied in this paper is divided into six parts: The first part is theintroduction, introduces the background and significance of this paper summarizes theforeign scholars on cross-listing, views corporate governance structure and financialrisk, the proposed research ideas and research methods and innovation of this paper;second part is an overview of the theory part, involve cross-listing of the meaning,motivation and influence, concept definition and impact of corporate governancemechanisms and defining financial risk and financial risk assessment; third sectiondescribes the main characteristics of cross-listing of Chinese enterprises, cross-listedwith the relationship between corporate governance structure and put forward relevantassumptions of this study; fourth part is the empirical design part, this part of the firstproposed sample selection and data sources, and then explanatory variables, theexplanatory variables and control variables are defined, and proposed to build a researchmodel; fifth part is the empirical part, the results of the use of descriptive statistics and regression analysis of the impact of cross-listing of the corporate governance structure ofthe financial risk of conduct the correlation test; part VI is conclusions andrecommendations section, the first conclusions of the study are presented according to astudy of the foregoing, and then were corporate securities regulators and proposes policyrecommendations.