公司治理與存託憑證發行類別之選擇:以中東、非洲地區諸國為例

Corporate Governance and The Choice of Depositary Receipt : Evidence From Middle East & Africa

蔡宗南(Tsung Nan Tsai)

指導教授 ： 潘李賢

國立中正大學/管理學院/會計與資訊科技學系/碩士(2014年)

摘要

公司治理確實是企業選擇存託憑證型態的重要考量因素，除此之外，隨著企業選擇較具籌資能力的發行方式後，原先偏高的負債情形確實得以獲得顯著的改善，這點無論是在ADR與GDR，以及參與型及非參與型之間的比較中，都十分明顯。

關鍵字

全球存託憑證 ； 美國存託憑證 ； 公司治理

並列摘要

After ADR issuance, the corporate governance quality of sponsored ADRs has improved. We also find that firms with higher ownership concentration are more likely to issue unsponsored ADR. Besides, firms' financial performance is improved after the issuance of the types of DR that allows for potential fund raising.

並列關鍵字

Global depositary receipts ； American Depositary Receipts ； Corporate governance

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