TY - JOUR
T1 - Underpricing of Chinese Initial Public Offerings
AU - Guo, Haifeng
AU - Brooks, Robert
AU - Fung, Hung Gay
N1 - This article discusses the initial public offerings (IPO) market in China and reviews the literature on IPO underpricing. A variety of reasons for underpricing are examined, including information asymmetry, ex ante uncertainty, signaling hypothesis, ownership dispersion, and market feedback.
PY - 2011
Y1 - 2011
N2 - This article discusses the initial public offerings (IPO) market in China and reviews the literature on IPO underpricing. A variety of reasons for underpricing are examined, including information asymmetry, ex ante uncertainty, signaling hypothesis, ownership dispersion, and market feedback. Other features of the Chinese market, such as inequality of supply and demand, allocation mechanisms, ownership structure, and market sentiment, are also considered in explaining the high level of underpricing in China.
AB - This article discusses the initial public offerings (IPO) market in China and reviews the literature on IPO underpricing. A variety of reasons for underpricing are examined, including information asymmetry, ex ante uncertainty, signaling hypothesis, ownership dispersion, and market feedback. Other features of the Chinese market, such as inequality of supply and demand, allocation mechanisms, ownership structure, and market sentiment, are also considered in explaining the high level of underpricing in China.
UR - https://www.tandfonline.com/doi/abs/10.2753/CES1097-1475440504
U2 - 10.2753/CES1097-1475440504
DO - 10.2753/CES1097-1475440504
M3 - Article
VL - 44
JO - The Chinese Economy
JF - The Chinese Economy
ER -