why listed firms in China prefer private placements compared to other options of raising capital. Design … insights for policy makers in China and around the world who have and wish to adopt similar practices within their …

” (SEOs) in China during the period from 1 January 2001 to 1 July 2006. Duration analysis is applied by using the … on financing decisions in China contradicts the predictions of both the trade-off theory and the pecking order theory … China under-utilize the tax shield of debt. The most surprising finding is that profitability is positively related to the …

IPOs and of established firms suggests that the information asymmetry is more pronounced for IPO firms. …

equity offerings, and to compare the competing hypotheses supported by asymmetric information theory and agency theory. Based …

We examine the impact of unsolicited credit ratings on seasoned equity offering (SEO) underpricing in China using … findings suggest that, after controlling for other factors, a SEO firm in China with a credit rating is able to reduce its SEO … appear to benefit from receiving an unsolicited rating. In general, credit ratings reduce information asymmetry and hence …

to issuer information asymmetry measures. Lockup duration is negatively related to underwriter spreads and underpricing … conclude that lockups represent a contracting solution to asymmetric information and agency problems that plague equity issues …

In recent times we have seen an increased interest in separating information signals into good and bad news in order to … oscillates between being optimistic and pessimistic in their interpretation of information somewhat driven by the prevailing … level of uncertainty at the time of the information release. We go on to show that investors' reaction to information is not …

China is taking a more active role on the world stage, even more so since its rapid and strong recovery from the global … China and abroad. This paper evaluates the current market infrastructure, including the legal and regulatory framework, for … securities trading, clearing and settlement in mainland China, and analyses the policy-making in this field. The paper finds that …