Liu, Jianlei; Uchida, Konari; Gao, Ruidong - In: Pacific-Basin Finance Journal 27 (2014) C, pp. 163-187
Chinese data enable investigation of the relationship between underpricing of initial public offerings (IPOs) and legal … 2009 shows that firms from a province with more developed legal framework experience less underpricing after controlling … for time-invariant, province-fixed effects. We also find that the extent of underpricing is decreased by the strength of …