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

Alcino Azevedo, Yilmaz Guney, Jingsi Leng

Research output: Contribution to journalArticlepeer-review


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.
Original languageEnglish
Pages (from-to)387-398
JournalResearch in International Business and Finance
Early online date30 Apr 2018
Publication statusPublished - 1 Dec 2018

Bibliographical note

© 2018, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International


  • Allocation Mechanisms
  • China
  • IPO
  • Underpricing
  • Governance
  • Underwriter Reputation


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