We find that spreads on loans originated by lenders affiliated to the IPO underwriters (informed lenders) are 12 basis points (bps) higher than loans originated by unaffiliated (uninformed) lenders. The price of these affiliated post-IPO loans is 59 bps higher than that of those unaffiliated...

Utilizing the latest research results in the fields of psychology and sociology, this study examines the relationship among fund manager behavior on the Chinese WeChat social media service, IPO discounting, and earnings volatility. Based on the Big Five model, described by Costa and McCrae in...

The economics of private equity investments have received an increasing attention by finance scholars in latest years. However, the academic research has so far devoted scant attention to listed private equity funds. These funds are a potentially fruitful research field to test some of the...

We study the effect of mutual fund allocation on China’s IPO market under the new registration system. The introduction of mutual fund bids significantly increases IPO offer price, resulting in a low initial short-term return and suppressed IPO underpricing. Those newly listed stocks witness...