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Underwriter Reputation, Issuer Ownership, and Pre-IPO Earnings Management : Evidence from China
Chen, Chao - 2012
underwriter reputation for issuers with different ownership structures in China. We document a significantly inverse relationship … between underwriter reputation and pre-IPO earnings management for non-state-owned enterprises (NSOE) issuers only, while no …, underwriter reputation is positively correlated with issuer post-IPO performance indicating that prestigious underwriters can …
Persistent link: https://www.econbiz.de/10013097123
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Underwriter reputation, issuer ownership, and pre-IPO earnings management : evidence from China
Chen, Chao; Shi, Haina; Xu, Haoping - In: Financial management 42 (2013) 3, pp. 647-677
Persistent link: https://www.econbiz.de/10010211226
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Underwriter-auditor relationship and pre-IPO earnings management : evidence from China
Du, Xingqiang; Li, Xu; Liu, Xuejiao; Lai, Shaojuan - In: Journal of business ethics : JOBE 152 (2018) 2, pp. 365-392
Persistent link: https://www.econbiz.de/10011926967
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Exiting a Private Equity Investment on the Chinese ‘A Share’ Market : The Impact of the IPO Lock-Up on Exit Valuations
Varadzhakov, Svetoslav - 2011
Private Equity investors exiting on the Chinese “A Share” markets in Shanghai and Shenzhen are subject to a compulsory 12-month lock-up, during which the sale of shares is prohibited. While this regulation aims to limit speculative investments in pre-IPO companies, it exposes private equity...
Persistent link: https://www.econbiz.de/10013134101
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Preface To : Valuing IPOs Using Price-Earnings Multiples Disclosed by IPO Firms in an Emerging Capital Market
Firth, Michael - 2009
in China. Using a sample of IPOs from 1992 to 2002, we find that price-earnings multiples disclosed by IPO firms provide … IPO firms after 1999, when the China Securities and Regulatory Commission relaxed its internal guideline for approving IPO …
Persistent link: https://www.econbiz.de/10013155453
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The Cross-Sectional Determinants of Post-IPO Stock Performance : Evidence from China
Chang, Xin (Simba) - 2009
This paper examines the cross-sectional determinants of post-IPO long-term stock returns in China. We document that the … the market corrects the aftermarket overvaluation of IPO firms in the long run. Underwriter reputation has a positive …
Persistent link: https://www.econbiz.de/10013155892
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Political Connections and the Process of Going Public : Evidence from China
Francis, Bill B. - 2009
We examine how political connections impact the process of going public. Specifically, we test how political connections impact the pricing of newly offered shares, the magnitude of underpricing, and the fixed cost of going public. Based on experiences of the new public firms in the Chinese...
Persistent link: https://www.econbiz.de/10013158388
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Venture Capitalist Participation and the Performance of Chinese IPOs
Otchere, Isaac K. - 2017
We examine the effects of venture capitalist participation in IPOs in China and find that VC-backed firms are more … with the monitoring role of the VC. Finally, the fact that VC reputation is associated with lower underpricing is …
Persistent link: https://www.econbiz.de/10012957114
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Regulated Price and Demand in China’s IPO Market
Geertsema, Paul - 2019
ratios in China. We find that the causality is one-directional from oversubscription ratios to IPO initial returns in the … prices to be determined by market forces in China …
Persistent link: https://www.econbiz.de/10012898955
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Initial Public Offerings Chinese Style
Qian, Yiming - 2020
We examine various aspects of the IPO market in China—the policy history, IPO pricing, bids and allocation, and … aftermarket trading under two lenses: IPO theories and the unique regulatory environment in China. We show that heavy …
Persistent link: https://www.econbiz.de/10012824565