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An Empirical Analysis of IPOs and SEOs : Evidence from the Chinese Stock Markets
Xu, Tianxiang - 2015
Persistent link: https://www.econbiz.de/10013013478
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The IPO Underwriting Market Share in China : Do Ownership and Quality Matter?
Chen, Chao - 2014
This paper investigates the determinants of initial public offering (IPO) underwriting market share in China. Using a … sample of underwriters in China's IPO market during 2004-2012, we find the following results. First, underwriting quality is … increasingly important role in enhancing underwriting market share in China's new issue reform era …
Persistent link: https://www.econbiz.de/10013053142
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Examining IPO Success in the Emerging Growth Enterprise Market of China
Long, Hai - 2014
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
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Low-Price Effect : Evidence from the Chinese IPO Market
Huang, Jing-Zhi - 2018
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
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How do Investors React to Biased Information? Evidence from Chinese IPO Auctions
He, Jingbin; Liu, Bo; Wang, Yiyao; Wu, Fei - 2021
We study how institutional investors utilize potentially biased information by analyzing the effect of IPO underwriters' earnings forecasts on investors' bidding behaviors in Chinese IPO auctions. Despite the presence of upward biases in underwriters' earnings forecasts, we nd that investors'...
Persistent link: https://www.econbiz.de/10013222466
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Venture Capital Investment and the Post-IPO Performance of Entrepreneurial Firms : Evidence from the People's Republic of China
Guo, Di - 2016
in the People's Republic of China (PRC) after an initial public offering (IPO). Firm-level panel data analysis shows that …
Persistent link: https://www.econbiz.de/10012995333
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The Market Reaction to Green Bond Issuance : Evidence from China
Wang, Jiazhen - 2020
simultaneously largest developing economy and largest emerging debt market, China. Utilizing a most comprehensive sample of Chinese …
Persistent link: https://www.econbiz.de/10012847701
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IPO Underpricing in China : New Evidence from the Primary and Secondary Markets
Chang, Eddy; Chen, Chao; Chi, Jing; Young, Martin R. - 2007
This paper divides Chinese A-Share IPO initial returns into the initial return of the primary market and of the secondary market. Our empirical evidence shows that the initial abnormal return on the secondary market is significantly positive. This study also finds that 1) the initial return of...
Persistent link: https://www.econbiz.de/10014052889
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Economic Policy Uncertainty and IPO Underpricing : Evidence From China
Song, Tianyi; Kutsuna, Kenji - 2022
large sample of IPO firms in China. We find that heightened economic policy uncertainty leads to increasing IPO underpricing …
Persistent link: https://www.econbiz.de/10013294837
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Impact of Demand Shocks on the Stock Market : Evidence from Chinese IPOs
LI, Jennifer (Jie); Pearson, Neil D.; Zhang, Qi - 2021
The inelastic markets hypothesis states that the aggregate stock market price elasticity of demand is small, implying that flows have large impacts on prices. We exploit demand shocks created as investor funds are frozen and unfrozen during Chinese IPOs to estimate the impact of demand shocks on...
Persistent link: https://www.econbiz.de/10013310576