Hao, Xiangchao; Shi, Jing; Yang, Jian - In: Pacific-Basin Finance Journal 30 (2014) C, pp. 207-232
This study investigates the impact of the bank–firm relationship on IPO underpricing in China, an emerging economy with a bank-dominated financial system. Utilizing a hand-collected loan data for 902 Chinese IPO firms from 2004 to 2011, we document that the bank–firm relationship reduces the...
