A Study on Comparison of Chinese IPO Underpricing and Performance During Asian and Prevailing Global Economic Crisis

摘要：

By considering the two time windows of crises, first one is the time period of Asian financial crisis (1997-1999) and the other one is the prevailing global economic crisis (2007-2009), the pattern of underpricing and aftermarket performance are studied. A sample of 626 companies and Market adjusted return model are used. Result indicates that in the recent global economic crisis IPO activity is on shrinking trend and there is 10% increase in average underpricing as compared to last Asian financial crisis. There is a fluctuating trend in aftermarket performance of IPO returns. A minimum return of 62% in 2009 is observed.

关键词： Asian Financial Crises Global Economic Crises IPO Underprising

作者: Faiq Mahmood Xia Xinping Humera Shahid Muhammad Usman

作者单位: School of Management, Huazhong University of Science and Technology, Wuhan, 430074, China

会议类型: 国际会议

会议名称: The Ninth Wuhan International Conference on E-Business(第九届武汉电子商务国际会议)

会议地点: 武汉

会议语种:英文

页码: 1157-1162

在线出版日期: 2010-05-29（万方平台首次上网日期，不代表论文的发表时间）