IPO initial returns in China: Underpricing or overvaluation?

IPO initial returns in China: Underpricing or overvaluation?

This paper separates the amount of IPO underpricing (primary market underpricing) and overvaluation (secondary market overvaluation) from the value of an IPO’s initial return to evaluate the relative importance of these two factors and their main determinants. Using data on the IPOs of 948 Chinese f...

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Bibliographic Details
Main Authors: Shunlin Song, JinSong Tan, Yang Yi
Format: Article
Language:English
Published: Elsevier 2014-03-01
Series:China Journal of Accounting Research
Subjects:
IPO initial return
IPO underpricing
IPO overvaluation
Post-IPO long-run stock performance
Determinants
Online Access:http://www.sciencedirect.com/science/article/pii/S1755309113000531

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http://www.sciencedirect.com/science/article/pii/S1755309113000531

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