Business, Management and Accounting
8 years ago

China's IPO underpricing influenced by underwriter's timing and size

Caijing lilun yu shijian
Empirical Study on Underpricing of China's IPO
Xie Chao-bin, Ling Huang

Paper Summary

The study on China's IPO underpricing found that factors like underwriter's time-making ability, P/E multiples, and IPO size influence underpricing. However, IPO policy, industry characteristics, and initial return do not affect underpricing. The underwriter's time-making ability is more important in the medium term than in the short term.

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