Earticle

초록

영어

In this study, the underpricing phenomena in initial public offering(IPO) of Chinese firms that were on the exchange for the period 2000-2011 was examined. The effects of shutting down IPO market on the underpricing degree of the IPO firms and compared the effects in Shanghai Stock Exchange and Shenzhen Stock Exchange were the main focus of the study. First, the number of days between the listing day and the closure of the IPO market influences the degree of underpricing negatively. In other words, as the listing day becomes closer to the closure of the IPO market, the higher the degree of the initial underpricing. Secondly, the number of days between reopening of the IPO market and the listing day influences the degree of underpricing positively. In other words, as the listing day becomes more distant from the reopening of the IPO market, the higher the degree of the initial underpricing. Thirdly, the degree of initial underpricing before shutting down the IPO market is higher than after.

목차

Abstract
 Ⅰ. Introduction
 Ⅱ. Literature Review
  1. On IPO Theory and Phenomenon
  2. On IPO Phenomenon in China
 Ⅲ. Research Design
  1. Data
  2. Model and Variables
 Ⅳ. Test Results
  1. Data Analysis
  2. Mean Comparison Test and Correlation Analysis
  3. Regression Analysis
 V. Conclusion
 References
 Table

키워드

저자

• Kim, Sunghwan [ Assistant Professor, School of Business Administration, Kyungpook National University; Daegu, Korea ]
• Tan, Jin [ Ph.D. Candidate, School of Business Administration, Kyungpook National University ]
• Heo, Wook [ Ph.D. Candidate, School of Business Administration, Kyungpook National University ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국재무학회 학술대회

• 간기

  부정기

• 수록기간

  2006~2024

• 십진분류

  KDC 325 DDC 330