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Air pollution and institutional investors' valuation bias during initial public offerings

Chi, Yeguang; He, Jingbin; Ma, Xinru; Wu, Fei - In: Pacific-Basin finance journal 80 (2023), pp. 1-27

Persistent link: https://www.econbiz.de/10014463310

Institutional investor inattention bias in auctioned IPOs

Chi, Yeguang; He, Jingbin; Ma, Xinru; Wu, Fei - In: Journal of banking & finance 150 (2023), pp. 1-23

Persistent link: https://www.econbiz.de/10014428965

Which trades of institutional investors are more informed in the post-IPO market? : evidence from China

He, Jingbin; Liao, Jingchi; Ma, Xinru; Wu, Fei - In: Emerging markets, finance and trade : EMFT 58 (2022) 9, pp. 2438-2452

Persistent link: https://www.econbiz.de/10013354970

Institutional Investor Inattention and Pricing Accuracy in Auctioned Ipos

Chi, Yeguang; He, Jingbin; Ma, Xinru; Wu, Fei - 2022

We investigate a unique dataset of Chinese IPOs from 2009 to 2012. First, we find that institutional investors who participate in multiple IPOs on a single day suffer from limited attention and submit less accurate bids. Second, we form several proxies for investor attention capacity and show...

Persistent link: https://www.econbiz.de/10013404330

How do Investors React to Biased Information? Evidence from Chinese IPO Auctions

He, Jingbin; Liu, Bo; Wang, Yiyao; Wu, Fei - 2021

We study how institutional investors utilize potentially biased information by analyzing the effect of IPO underwriters' earnings forecasts on investors' bidding behaviors in Chinese IPO auctions. Despite the presence of upward biases in underwriters' earnings forecasts, we nd that investors'...

Persistent link: https://www.econbiz.de/10013222466