Effects of foreign exchange listing on the returns of South African companies

 

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dc.contributor.advisor Uliana, Enrico en_ZA
dc.contributor.author Sibiya, Xolani en_ZA
dc.date.accessioned 2014-07-31T12:13:46Z
dc.date.available 2014-07-31T12:13:46Z
dc.date.issued 2005 en_ZA
dc.identifier.citation Sibiya, X. 2005. Effects of foreign exchange listing on the returns of South African companies. University of Cape Town. en_ZA
dc.identifier.uri http://hdl.handle.net/11427/5623
dc.description Includes bibliographical references.
dc.description.abstract There are a number of companies that seek dual listing in foreign stock markets. The number of foreign companies that are listed in the United States alone are above 3000. Companies seek foreign exchange listing for a number of reasons including the access to foreign capital, visibility in the foreign markets and ability to effect foreign market acquisitions through use of stock listed in the foreign markets. There are also costs associated with listing in the foreign markets, including the costs of compliance (these would include stock exchange costs, accounting and auditing compliance costs) and the costs of management time. There are a lot of studies that have been conducted in this area of finance and they show varying results. The results vary from significantly positive returns in the period before and after the listing date, to significantly negative returns before and after the listing date. There are studies that found there to be no significantly positive or negative returns. There are some that found significantly positive returns in either the pre or post listing period with significantly opposite returns in the opposing period. During the years between 1997 and 2000, a number of South African companies followed a trend of listing in their shares in the foreign markets, especially taking their primary listings to the London Stock Exchange. This study examines the effects of a foreign exchange listing in the returns of the South African companies that are listed in the foreign markets. en_ZA
dc.language.iso eng en_ZA
dc.subject.other Accounting en_ZA
dc.title Effects of foreign exchange listing on the returns of South African companies en_ZA
dc.type Master Thesis
uct.type.publication Research en_ZA
uct.type.resource Thesis en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Commerce en_ZA
dc.publisher.department College of Accounting en_ZA
dc.type.qualificationlevel Masters
dc.type.qualificationname MCom en_ZA
uct.type.filetype Text
uct.type.filetype Image
dc.identifier.apacitation Sibiya, X. (2005). <i>Effects of foreign exchange listing on the returns of South African companies</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,College of Accounting. Retrieved from http://hdl.handle.net/11427/5623 en_ZA
dc.identifier.chicagocitation Sibiya, Xolani. <i>"Effects of foreign exchange listing on the returns of South African companies."</i> Thesis., University of Cape Town ,Faculty of Commerce ,College of Accounting, 2005. http://hdl.handle.net/11427/5623 en_ZA
dc.identifier.vancouvercitation Sibiya X. Effects of foreign exchange listing on the returns of South African companies. [Thesis]. University of Cape Town ,Faculty of Commerce ,College of Accounting, 2005 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/5623 en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Sibiya, Xolani AB - There are a number of companies that seek dual listing in foreign stock markets. The number of foreign companies that are listed in the United States alone are above 3000. Companies seek foreign exchange listing for a number of reasons including the access to foreign capital, visibility in the foreign markets and ability to effect foreign market acquisitions through use of stock listed in the foreign markets. There are also costs associated with listing in the foreign markets, including the costs of compliance (these would include stock exchange costs, accounting and auditing compliance costs) and the costs of management time. There are a lot of studies that have been conducted in this area of finance and they show varying results. The results vary from significantly positive returns in the period before and after the listing date, to significantly negative returns before and after the listing date. There are studies that found there to be no significantly positive or negative returns. There are some that found significantly positive returns in either the pre or post listing period with significantly opposite returns in the opposing period. During the years between 1997 and 2000, a number of South African companies followed a trend of listing in their shares in the foreign markets, especially taking their primary listings to the London Stock Exchange. This study examines the effects of a foreign exchange listing in the returns of the South African companies that are listed in the foreign markets. DA - 2005 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2005 T1 - Effects of foreign exchange listing on the returns of South African companies TI - Effects of foreign exchange listing on the returns of South African companies UR - http://hdl.handle.net/11427/5623 ER - en_ZA


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