Value of a dropdown list through JavaScript

A dropdown list is a usual element of a from on WebPages. And very often it's checked by some JaveScript before sending the data to the host (or for whatever other reasons). The following list:
<form name="myform">
<select name="mylist">
<option>A</option>
<option>B</option>
<option>C</option>
</select>
</form>

could be accessed by means of JavaScript the following way: "document.myform.mylist.value". It will work in most of the browsers except Internet Explorer. Especially for this one, HTML code should be little bit different:
<form name="myform">
<select name="mylist">
<option value="A">A</option>
<option value="B">B</option>
<option value="C">C</option>
</select>
</form>

Now the same JavaScript code can be used in IE, too.