Research on Wealth Effect of Asset Reorganization in Tourism Industry: Case Study Based on Holistic Listing of Overseas Chinese Town Group


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.

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T. Liu, S. Yang and W. Zhang, "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, Vol. 5 No. 4, 2012, pp. 348-354. doi: 10.4236/jssm.2012.54041.

Conflicts of Interest

The authors declare no conflicts of interest.


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