Author(s)

Tingli Liu, Songling Yang, Wei Zhang

Economic and Management School, Beijing University of Technology, Beijing, China..

This study extends previous research by examining how holistic listing affects the short-term and long-term wealth for listed company in China. Case study, event study and financial ratios analysis methods are used in the paper. We measure short-term wealth effect by the extra returns and measure long-term wealth by the five value creation indexes. The results show that holistic listing of group enterprise injects new motivation for value creation and helps shareholders to share both long-term and short-term wealth effects. Our research has implications for group enterprises that are striving to enhance corporate value through capital operation.

Holistic Listing; Wealth Effects; Value

Liu, T. , Yang, S. and Zhang, W. (2012) Research on Wealth Effect of Asset Reorganization in Tourism Industry: Case Study Based on Holistic Listing of Overseas Chinese Town Group. Journal of Service Science and Management, 5, 348-354. doi: 10.4236/jssm.2012.54041.