研究期間：10108~10207;This is a three-year project, examining the impact of cross-listing decisions on Chinese cross-listed firms’ capital structure and cost of capital, and further comparing to those of Taiwanese cross-listed firms. The influence of cross-listing decisions on the capital structure of Chinese listed firms will be studied in the first year, and we further explore the impacts of institutional reform (Split-share reform) on the cost of capital of Chinese cross-listed firms in the second year. In the third year, we will investigate whether the capital structures of Chinese cross-listed firms and those of Taiwanese cross-listed firms would be influenced by the characteristics of controlling shareholders. It’s necessary for us to have better understanding of Chinese capital markets to know the determinants of the capital structure and the influences from the economic environment on firms’ cost of capital, since Taiwan has a tight connection with China in politics, economies and cultures. We hope that the results from this project can help the decision-making in all respects. The sample of this study will be selected and data will be collected after conducting further literature review, developing better research framework and more solid hypotheses. Then, econometric methods will be used to analyze data. Finally, interim and final reports will be completed and this project will be concluded on time. The results in this project will be expected to extend our knowledge of the difference between Taiwanese and Chinese financial markets and to lay the groundwork for future research as well as to have implications for business people and investors who are interested in Chinese markets. We will try our best to overcome all possible difficulties we would face and to enhance our research group members’ research abilities and quality.
