A note on the information content of relocating corporate domicile: A trading volume approach

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Abstract

Overseas location of corporate domicile is not new for Hong Kong. Before the eighties, some companies operating in Hong Kong, principally shipping companies and financial institutions, registered overseas for tax purposes. Since 1989 there has been a rapid increase in the number of companies deciding to relocate, including industrial companies. This study examinies the association between sharemarket trading and the relocation announcement. The results indicate that unusually large trading volumes are observed immediately after the announcement day.  Copyright © 1992 Taylor & Francis Group All right reserved.

Original languageEnglish
Pages (from-to)377-380
JournalAccounting and Business Research
Volume22
Issue number88
DOIs
Publication statusPublished - Sep 1992

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Citation

Cheung, Y.-L., & Lui, Y.-H. (1992). A note on the information content of relocating corporate domicile: A trading volume approach. Accounting and Business Research, 22(88), 377-380.