The sun is rising in the East: Dual-class shares and the competitive landscape of technological industries in Asia

• Main Authors: LIANG, Hao, NGUYEN, Tran Bao Phuong, ZHANG, Wei
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2022
• Subjects: Dual-class shares; technological industry; Asia; competition channel; capital channel; Asian Studies; Finance and Financial Management; Strategic Management Policy
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/7144; https://ink.library.smu.edu.sg/context/lkcsb_research/article/8143/viewcontent/SSRN_id4248516.pdf
• Institution: Singapore Management University

There has recently been a relaxation of listing regulations to accommodate and attract firms going public with dual-class shares (DCS), notably in Asia. We examine the value implications of DCS adoption by employing an event study around a regulatory change allowing DCS listings in Hong Kong. We fin...