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Research on Wealth Effect of Asset Reorganization in Tourism Industry: Case Study Based on Holistic Listing of Overseas Chinese Town Group
Economic and Management School, Beijing University of Technology, Beijing, China.
Economic and Management School, Beijing University of Technology, Beijing, China.
Economic and Management School, Beijing University of Technology, Beijing, China.
- 1 Economic and Management School, Beijing University of Technology, Beijing, China.
- 2 Economic and Management School, Beijing University of Technology, Beijing, China.
- 3 Economic and Management School, Beijing University of Technology, Beijing, China.
Journal of Service Science and Management·Volume 05 (2012)·Pages 348–354·Published 26 December 2012·DOI10.4236/jssm.2012.54041
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Abstract
This study extends previous research by examining how holistic listing affects the short-term and long-term wealth for listed company in China. Case study, event study and financial ratios analysis methods are used in the paper. We measure short-term wealth effect by the extra returns and measure long-term wealth by the five value creation indexes. The results show that holistic listing of group enterprise injects new motivation for value creation and helps shareholders to share both long-term and short-term wealth effects. Our research has implications for group enterprises that are striving to enhance corporate value through capital operation.
KeywordsHolistic ListingWealth EffectsValue
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