Song, Shunlin; Tan, Jinsong; Yi, Yang - In: China journal of accounting research : CJAR 7 (2014) 1, pp. 31-49
’s reputation and the existence of pricing regulation are positively related to underpricing. Investor sentiment has a positive … effect on overvaluation but has no effect or a negative effect on underpricing. Overall, our results suggest that in China …This paper separates the amount of IPO underpricing (primary market underpricing) and overvaluation (secondary market …