In the aftermath of major accounting scandals at the beginning of the century, significant reforms of the responsibilities of management, external auditing and corporate governance have been undertaken. A number of studies have examined the experiences of various actors (management, audit...

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...