Impact of Time Horizon on Yield and Market Risk of Chinese Initial Public Offerings

This study examined the impact of time horizon on the yield and market risk of Chinese initial public offerings (IPOs.). Related stock prices ranged from September 2006 through February 2008. The study hypothesized that time had a significant impact on yield of Chinese IPOs and that time had a significant impact on market risk of Chinese IPOs. Both hypotheses were tested using Friedman ANOVA (chi square approximation) and Wilcoxon signed-rank W statistic (two-tailed p). The results of these tests suggested that time did not have a significant impact on yield of Chinese IPOs, but time did have a significant impact on market risk of Chinese IPOs