Research the Influence Factors of Chinese IPO Underpricing Before and After the Split Share Structure Reform

被引:0
|
作者
Yu Feng [1 ]
Tian Yixiang [1 ]
Liu Jianjiang [1 ]
Lu Liucun [1 ]
机构
[1] Univ Elect Sci & Technol China, Sch Econ & Management, Chengdu 610054, Peoples R China
关键词
IPO underpricing; adjusted Frisch Law; split share structure reform; impact factor;
D O I
暂无
中图分类号
C93 [管理学];
学科分类号
12 ; 1201 ; 1202 ; 120202 ;
摘要
IPO underpricing is a widespread phenomenon on the global IPO market. However Chinese IPO underpricing level is much higher than the level of mature market. Split share structure reform of listed companies in China are a major capital market reform, this paper selects 10 impact factor from the IPO issuing and listing of the financial situation and the basic situation, the stock supply and demand and market environment at split share structure reform of the implementation of time limit. We use Adjusted-Frisch Law to carry out the extent of IPO underpricing and its influence factor described in the statistical analysis and multiple linear regression analysis in 261 samples. Giving an objective analysis of China's share reform before and after the IPO underpricing differences influence factor, it has strong theoretical and practical significance.
引用
收藏
页码:4209 / 4214
页数:6
相关论文
共 50 条
  • [1] Split-share structure reform and the underpricing of Chinese initial public offerings
    Khurshed, Arif
    Tong, Yan
    Wang, Mingzhu
    [J]. EUROPEAN JOURNAL OF FINANCE, 2018, 24 (16): : 1485 - 1505
  • [2] The Empirical Research on Monthly Effect of IPO Underpricing in The Chinese A-Share Market
    Bai, Ruyu
    Bao, Wenbin
    [J]. 2019 3RD INTERNATIONAL CONFERENCE ON EDUCATION, MANAGEMENT AND SOCIAL SCIENCE (EMSS 2019), 2019, : 256 - 260
  • [3] The influence of economic policy uncertainty on IPO underpricing in Chinese A-share market
    Zhu, Hongquan
    Liu, Xiaoqian
    Li, Yajing
    [J]. Xitong Gongcheng Lilun yu Shijian/System Engineering Theory and Practice, 2021, 41 (05): : 1197 - 1210
  • [4] An empirical examination of IPO underpricing in the Chinese A-share market
    Yu, Ting
    Tse, Y. K.
    [J]. CHINA ECONOMIC REVIEW, 2006, 17 (04) : 363 - 382
  • [5] Research on changes of corporate financial governance after the split share structure reform
    Huang Qinghua
    Duan Wanchun
    [J]. INFORMATION SCIENCE AND MANAGEMENT ENGINEERING, VOLS 1-3, 2014, 46 : 667 - 673
  • [6] The effects of the split share structure reform on Chinese listed firms' leverage decisions
    Tsai, Han-Fang
    Lin, Tsui-Jung
    Hung, Jung-Hua
    [J]. QUARTERLY REVIEW OF ECONOMICS AND FINANCE, 2015, 57 : 86 - 100
  • [7] Has split share structure reform improved the efficiency of the Chinese stock market?
    Li, Xindan
    Zhang, Bing
    [J]. APPLIED ECONOMICS LETTERS, 2011, 18 (10-12) : 1061 - 1064
  • [8] The Event Study of Split Share Structure Reform
    Li Pu
    Zhang Qi
    [J]. RECENT ADVANCE IN STATISTICS APPLICATION AND RELATED AREAS, VOLS I AND II, 2009, : 1318 - 1323
  • [9] Empirical Research of Influence Factors about IPO Underpricing in China's Growth Enterprise Board
    Kang Yuhong
    Shi Jiaping
    [J]. PROCEEDINGS OF THE 4TH (2012) INTERNATIONAL CONFERENCE ON FINANCIAL RISK AND CORPORATE FINANCE MANAGEMENT, VOLS I AND II, 2012, : 188 - 193
  • [10] Does Governance Reform Help? The Impact of Split Share Structure Reform on Corporate Board Structure in Chinese Manufacturing Enterprises
    Zhang, Cheng
    Cheong, Kee Cheok
    Li, Ran
    Rasiah, Rajah
    [J]. MALAYSIAN JOURNAL OF ECONOMIC STUDIES, 2016, 53 (02) : 297 - 313