Analysis of the impact of dual-platform listing on the profitability of household appliances enterprises
DOI:
https://doi.org/10.54097/j5stkj32Keywords:
Dual-platform listing, Return on Equity, Household Appliance industry, Pooled OLS.Abstract
Against the backdrop of the two-way opening of the capital market and intensified global competition in the household appliances industry, dual-platform listing has become an important strategic choice for leading enterprises to optimize their capital structure. This paper takes listed companies in the A-share household appliances industry from 2005 to 2025 as a sample, and uses the pooled OLS regression method to empirically test the impact of dual platform listing on the return on equity (ROE) of these enterprises. The study found that the ROE of dual-platform enterprises is significantly higher than that of firms listed solely on A-shares, by about 4.70 percentage points on average. The profit-enhancing effect is more pronounced in large home appliance enterprises and high-growth enterprises, whereas no significant effect is observed in small and medium-sized enterprises (SMEs) and low-growth enterprises. Further analysis indicates that dual-platform listing enhances corporate profitability by reducing financing costs, improving corporate governance, and enhancing the quality of information disclosure. After replacing the dependent variable and excluding the shocks from special years, the conclusions remain robust. The study provides micro empirical evidence for household appliances enterprises to use cross-border capital platforms to enhance long-term value, and also provides policy reference for regulators to improve the interconnection mechanism.
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