本研究以臺灣、香港、新加坡、上海及深圳等證交所為研究對象，使用對應分析與及SMP 指標跨期分析，藉以瞭解各國證券市場在不同類型產業上之動態分佈狀況。研究結果發現香港及臺灣證交所產業集中趨勢最為明顯，香港以金融服務業為主，臺灣以資訊科技產業為主；上海、深圳及新加坡產業分佈則較偏重於食品製造業、基礎材料業、運輸業、生技製藥業及公用事業等。受「與同行同在」效果影響，導致資訊外溢效果及企業從眾行為，增加企業根據其所屬產業選擇於特定證券市場掛牌之傾向，隱含政府提出證券市場政策時，應考量產業籌資時之群聚現象。

We take firms listed in five stock exchanges, including Taiwan, Hong Kong, Singapore,Shanghai, and Shenzhen stock exchanges as the sample. The correspondence analysis andSMP are used to analyze the dynamic industry distribution among different stock markets.The results show that specific industries tend to be clustered quite significantly in the HongKong Stock Exchange and Taiwan Stock Exchange compared with other three stockexchanges. Firms listed in the Hong Kong Stock Exchange are mainly from the banks industry,and the commercial and professional services industry while firms listed in the Taiwan StockExchange are mainly from the information technology industry. On the other hand, Shanghai,Shenzhen and Singapore stock exchanges are more similar in the industry distribution. Firmslisted in these three stock exchanges are primarily from food manufacture industry, thematerials industry, the transportation industry, pharmaceuticals, biotechnology and lifesciences industry, and the utilities industry. “Be with your peers” results in informationspillover and herding behavior of firms, promoting firms to list in the specific stock exchangewith rivals in the same industry. This implies that government should consider specificindustries be clustered in the specific stock exchanges when they set policies of stock marketrelated.