Initial Public Offerings in China: Underpricing, Statistics and Developing Literature

Research in International Business and Finance, Forthcoming

36 Pages Posted: 4 May 2018

See all articles by Alcino Azevedo

Alcino Azevedo

Aston Business School

Yilmaz Guney

University of Hull

Jingsi Leng

Hull University Business School (HUBS)

Date Written: May 3, 2018

Abstract

We review more than two decades of literature on initial public offerings (IPOs) in China, discussing the research hypotheses that have been studied as well as the main findings. We summarize past and current developments in the literature and highlight the research problems which have not yet been adequately resolved. We provide updated information on the popularity of IPOs and allocation mechanisms over the last 25 years as well as on the underpricing that is associated with the usage of each IPO allocation mechanism. We also suggest new avenues for future research, based on the identified gaps in the extant literature.

Keywords: Allocation Mechanisms, China, IPO, Underpricing, Governance, Underwriter Reputation

JEL Classification: G32, G38, N25

Suggested Citation

Azevedo, Alcino and Guney, Yilmaz and Leng, Jingsi, Initial Public Offerings in China: Underpricing, Statistics and Developing Literature (May 3, 2018). Research in International Business and Finance, Forthcoming. Available at SSRN: https://ssrn.com/abstract=3172957 or http://dx.doi.org/10.2139/ssrn.3172957

Alcino Azevedo (Contact Author)

Aston Business School ( email )

Econ., Finance & Enterpreneurship
Aston Business School
Birmingham, B4 7ET
United Kingdom

Yilmaz Guney

University of Hull ( email )

Hull, HU6 7RX
United Kingdom

HOME PAGE: http://https://www.hull.ac.uk/faculties/fblp/hubs.aspx

Jingsi Leng

Hull University Business School (HUBS) ( email )

Hull, HU6 7RX
United Kingdom

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