Based on hand-collected information on private companies listed in the Chinese SME stock market, this paper studies how family involvement and political connection affect firms' IPO underpricing. Especially, we investigate how underpricing varies with higher- and ordinary level political...

Corporate governance mechanisms are of particular interest to publicly listed SMEs, as ineffective governance mechanisms, or the nonexistence of effective ones, can lead to the speedy and sure demise of these enterprises, as they generally do not possess the resources to survive as their larger...