Business, Management and Accounting
7 years ago

IPO secondary offerings decrease underpricing, shaping China's capital market dynamics.

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Empirical study on effect of IPO secondary offerings on IPO underpricing
Zhan Jingwen, Liu Yucan

Paper Summary

The study looked at how IPO secondary offerings affect IPO underpricing in China's stock market. Data from 2013 to 2016 was analyzed, showing that more secondary offerings lead to lower underpricing. In a good market, the impact is weaker, but on the GEM and SME boards, secondary offerings significantly reduce underpricing. This research helps understand how secondary offerings influence IPO prices in China.

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