The Overseas-listed Company Valuation of the Home-market Characteristics, Company Characteristics—the Case of the U.S. and Hong Kong Markets

Mengmeng Ma, Ronghua Yi () and Ying Yu
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Mengmeng Ma: China Jiliang University, College of Economics and Management
Ronghua Yi: China Jiliang University, College of Economics and Management
Ying Yu: China Jiliang University, College of Modern Science and Technology

A chapter in Proceedings of the SSEME Workshop on Economics and Management (SSEME-EM 2024), 2024, pp 81-90 from Springer

Abstract: 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.

Keywords: The Overseas-listed Company Valuation; Home market characteristics; Company characteristics; Tobin’q model (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-527-0_9

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DOI: 10.2991/978-94-6463-527-0_9

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