This paper examines the cross-sectional determinants of post-IPO long-term stock returns in China. We document that the aftermarket P/E ratio has the most robust negative association with post-IPO stock returns. The negative relation indicates that the market corrects the aftermarket...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>We find that listed parents’ carve-outs have investment-cash-flow sensitivities 70 per cent lower than unlisted parents’ carve-outs, on average. Such a finding is stronger when we consider only equity carve-outs in technological industries. The finding...</p>

The YinNan Irrigation District in NingXia, China diverts each year about 1.6 - 109 m3 water from the Yellow River for irrigation use. More than half of that water is discharged back to the downstream channel or some low-lying depressions as a result of agricultural drainage. Several studies...