This is an empirical study that examines the underpricing and aftermarket long-term performance of IPOs in China and IPO underpricing. Corporate governance aspects that may play a role in IPOs, such as ownership structure and external directors, are studied.The study show that firms with higher...

INTRODUCTION: The initial public offering (IPO) is an important life cycle of a firm and has significant effects on the firm’s ownership structure. Ownership structure plays a dominant role in shareholding pattern in initial public offerings. PURPOSE OF THE STUDY: This paper investigates the...

This paper examines what determines the offer price for a ChiNext IPO and discusses how we can improve the current “Chinese-style” bookbuilding process. We establish that the ChiNext IPO underwriter relies upon the institutional investors to discover the issuer's intrinsic value (in the form...

We study the association between environmental, social, and governance (ESG) government risk management and firm-level IPO underpricing between 2008 and 2018. Examining 7,446 IPOs issued in 36 countries, we find that IPO underpricing tends to be lower in countries with higher ESG Government...

This study examines the association between real earnings management, governance attributes, and IPO failure risk. Using a sample of 4174 IPOs firms that went public over the period of 1998-2011, we find evidence that real earnings management and governance attributes are associated with IPO...

Purpose: We investigate the impact of board diversity on initial public offering underpricing and firm value. Design/methodology/approach: We examine the relationship between board diversity and IPO underpricing by collecting data on the board size and composition of 470 IPOs listed on the Korea...