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

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dc.contributor.advisorUliana, Enricoen_ZA
dc.contributor.authorSibiya, Xolanien_ZA
dc.date.accessioned2014-07-31T12:13:46Z
dc.date.available2014-07-31T12:13:46Z
dc.date.issued2005en_ZA
dc.descriptionIncludes bibliographical references.
dc.description.abstractThere 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.identifier.apacitationSibiya, 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/11427/5623en_ZA
dc.identifier.chicagocitationSibiya, 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/11427/5623en_ZA
dc.identifier.citationSibiya, X. 2005. Effects of foreign exchange listing on the returns of South African companies. University of Cape Town.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
dc.identifier.urihttp://hdl.handle.net/11427/5623
dc.identifier.vancouvercitationSibiya 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/11427/5623en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentCollege of Accountingen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherAccountingen_ZA
dc.titleEffects of foreign exchange listing on the returns of South African companiesen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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