Do IPOs Affect Market Price? Evidence from China
2018 ◽
Vol 53
(3)
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pp. 1391-1416
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Keyword(s):
We examine whether sizable initial public offerings (IPOs) affect the whole market. Using a Chinese IPO sample, we find robust evidence that sizable IPOs depress the market price on not only the listing day but also the offering (subscription) day. The impact on the market is negatively correlated with IPO size on the listing day. However, this impact is largely transitory. The China Securities Regulatory Commission (CSRC) often places a moratorium on IPOs to support the market, which seems ineffective as the negative IPO effect is transitory and moratoriums are not perceived as good news.
2021 ◽
Vol 5
(2)
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pp. 34-41
Keyword(s):
2007 ◽
Vol 47
(3)
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pp. 513-525
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Keyword(s):
2009 ◽
Vol 44
(3)
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pp. 657-682
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Keyword(s):
2019 ◽
Vol 20
(4)
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pp. 289-300
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2015 ◽
Vol 9
(1)
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pp. 99-114
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2014 ◽
Vol 73
◽
pp. 65-96
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2009 ◽
Vol 15
(1)
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pp. 17-27
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