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    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/121452

    Title: Financial leverage and competitive strategy of cross-listing firms
    Authors: 陳建維
    Chen, Chien-Wei
    Yang, Chi-Lin;Chiang, Min-Hsien;Chen, Chien-Wei
    Contributors: 國貿系
    Keywords: Competitive strategy; cross-list; event study; financial leverage; firm value
    Date: 2018
    Issue Date: 2018-12-19 17:36:17 (UTC+8)
    Abstract: This study investigates the relationship between financial leverage and competitive strategies based on the investigation into the cross-listing announcements, through which the financial condition of a firm might shape the competition outcome. The empirical evidence shows that cross-listing announcements normally attract positive market responses to cross-listed firms but incur negative market responses to rival firms, especially upon the strategic substitutes competition. Cross-listed firms obtain more positive market responses if their financial leverage is lower, but the firms have no advantages when they are financially constrained. Less leveraged rival firms could weaken the negative impact and even gain positive market responses upon the strategic complements competition.
    Relation: Austrailan Journal of Management
    Data Type: article
    DOI 連結: https://doi.org/10.1177/F0312896218792967
    DOI: 10.1177/F0312896218792967
    Appears in Collections:[國際經營與貿易學系 ] 期刊論文

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