Zhang, Xiao-cheng; Zhang, Miaomiao; Huang, Shao-an; … - In: Financial Innovation 1 (2015) 11, pp. 1-14
Background: Compared with the fixed-price mechanism, the bookbuilding mechanism has not changed the Chinese IPO high underpricing. How to develop scientific and reasonable IPO pricing, and reduce the high IPO underpricing has become a major challenge for China's securities market. Methods: In...