Financial Intermediation,Underwriter Decisions and Underwriting Risks in Chinas Stock Market
The inefficiency of underwriting business in China needs for further researches to found out the risk source of underwriting risks. Based on behavioral economics and financial theories,we put forward hypotheses from personal,information these two aspects and do empirical study on them. The results show that irrational underwriting decisions would be much easily be proposed and generate high underwriting risks finder inefficient financial markets and external interference conditions. Especially,different from foreign experiences,the risk compensation mechanism is not efficient in China and dual-shareholder structure is one of the main sources of the underwriting risks.
underwriting risks Chinas stock market rights offer
Jia Ming Zhang Zhe Wan Difang
School of Management,Xian Jiaotong University,Xian,Shaanxi,710049
国际会议
The First International Conference on Management Innovation(ICMI 2007)(管理创新会议)
上海
英文
503-508
2007-06-04（万方平台首次上网日期，不代表论文的发表时间）