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

Alcino Azevedo; Yilmaz Guney; Jingsi Leng

doi:10.1016/j.ribaf.2018.04.011

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

Alcino Azevedo, Yilmaz Guney, Jingsi Leng

Research output: Contribution to journal › Article › peer-review

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.

Original language	English
Pages (from-to)	387-398
Journal	Research in International Business and Finance
Volume	46
Early online date	30 Apr 2018
DOIs	https://doi.org/10.1016/j.ribaf.2018.04.011
Publication status	Published - 1 Dec 2018

Bibliographical note

Keywords

Allocation Mechanisms
China
IPO
Underpricing
Governance
Underwriter Reputation

Access to Document

10.1016/j.ribaf.2018.04.011

Initial Public Offerings in China - Underpricing,
© 2018, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International
Accepted author manuscript, 571 KBLicence: CC BY-NC-ND 3.0

Cite this

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AB - 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.

KW - Allocation Mechanisms

KW - China

KW - IPO

KW - Underpricing

KW - Governance

KW - Underwriter Reputation

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