Showing 21 - 30 of 180,482
This paper investigates the effects of largest-shareholder ownership concentration, foreign ownership, and audit quality on the amount of firm-specific information incorporated into share prices, as measured by stock price synchronicity, of Chinese-listed firms over the 1996-2003 period. We show...
Persistent link: https://www.econbiz.de/10013159195
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
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
the experience of China, an economy undergoing dramatic institutional change in the last 20 years with rich variation in …
Persistent link: https://www.econbiz.de/10012974061
quality only in firms from China, where the legal enforcement is weaker than U.S. In addition, we find that compared to …
Persistent link: https://www.econbiz.de/10013008150
bond issuances in China, the largest emerging debt market. We use a sample of A-shares and public corporate debt securities …
Persistent link: https://www.econbiz.de/10012858977
Adopting a sample of the initial 243 IPOs from the emerging Growth Enterprise Market of China (GEMC) over the 2009 to …
Persistent link: https://www.econbiz.de/10013045469
We document a strong low-price effect for Chinese initial public offerings (IPOs). Namely, IPOs with low offer prices have higher initial returns, followed by even stronger after-market performance. This low-price effect cannot be fully explained by risks and IPO undervaluation. A long-only...
Persistent link: https://www.econbiz.de/10012923616
In response to the recent elevated corporate credit risk environment in China’s credit market, we develop a probability …
Persistent link: https://www.econbiz.de/10013240789
the experience of China, an economy undergoing dramatic institutional change in the last 20 years with rich variation in …
Persistent link: https://www.econbiz.de/10011267943